NEW DELHI: Tariffs by the United States on solar imports have dealt a heavy blow to Indian solar module exporters, forcing manufacturers to redirect volumes back into the domestic market, according to a report by ICRA.

The development has aggravated the existing oversupply situation in India’s solar module industry and is expected to squeeze margins and accelerate consolidation among smaller players.

 “The recent imposition of tariffs by the USA and growing regulatory uncertainty are likely to dampen export volumes, putting pricing pressure on domestic OEMs,” said Ankit Jain, Vice President . . .