The US Department of Commerce (DoC), following an investigation, has determined that solar cells imported from India are being sold in the US below fair value, and has recommended the imposition of anti-dumping duties equivalent to the dumping margin.
The notice outlining the preliminary findings names four Indian manufacturers — Mundra Solar PV, Mundra Solar Energy, Kowa Company, and Premier Energy Photovoltaic. Their estimated weighted average dumping margin has been calculated at 123.07%.
For all other Indian manufacturers, the same dumping margin has been applied. The US Customs and Border Protection will collect duties equivalent to the dumping margin, with adjustments to account for countervailing duties (CVD) already in place.
After factoring in existing CVDs, the effective dumping margin has been pegged at 107.77%.
The Department of Commerce is expected to issue its final determination within 75 days of the preliminary findings. In addition to India, Indonesia and Laos have also been investigated for dumping solar cells and modules.
The dumping margin for Indonesian producers has been set at 5.15%, while that for Laotian producers stands at 22.46%.
Combined with earlier US countervailing duty determinations, the total duties could reach about 234% for India, 121% to 178% for Indonesia, and 103% for Laos, according to the Alliance for American Solar Manufacturing and Trade.
The industry group had filed the initial complaint in July 2025, alleging dumping and subsidised exports of solar cells from India, Indonesia, and Laos. Subsequently, in February 2026, the US Commerce Department imposed preliminary countervailing duties of 126% on Indian solar exports, up to 143% on Indonesian exports, and 80.67% on those from Laos.
Indian solar stocks reacted sharply to the development. Shares of Waaree Energies fell 3.14%, while Vikram Solar declined 2.20% during Friday’s trade, with some manufacturers dropping as much as 5% after the announcement of the preliminary duties.
The Central Board of Direct Taxes has made changes to Income Tax Return forms for AY 2026-27, with added disclosures for F&O trading, political donations, and investments for presumptive taxpayers. ITR-1 now includes two house properties, making it easier for salaried taxpayers.
