Waaree Reshapes Supply Chain to Bypass US Solar Tariffs

Chief Executive Officer Amit Paithankar said the company is sourcing solar cells — which are later assembled into modules — from countries that face lower export duties to the United States. “If you configure your supply chain well, the high tariffs currently in place on Indian goods can be sidestepped. We are continuing to service our US orders,” Paithankar said in an interview on Thursday.

Waaree’s strategy comes amid escalating trade tensions between New Delhi and Washington. In August, US President Donald Trump imposed a 50 per cent tariff on Indian imports in response to India’s continued purchase of Russian oil. American authorities have also initiated a fresh anti-dumping investigation into solar modules from India, Indonesia, and Laos.

The company is relying on a little-known 2012 US Customs ruling, which deems solar panels to be manufactured in the country where the cells originate, to continue its exports. However, Waaree itself is under a separate US investigation launched in September for possible duty evasion. At the time, the company stated it was fully cooperating with regulators and complying with all applicable local laws. Paithankar declined to comment further on the probe.

Waaree’s order book stood at 24 gigawatts (GW) at the end of September, valued at around Rs 470 billion (USD 5.3 billion), with the United States contributing nearly 60 per cent of that total. The company manufactures modules both in India and at its US facilities, which are currently being expanded.

Waaree is on track to double production capacity at its Houston module plant to 3.2 GW within the next six months. It recently added another gigawatt of capacity by acquiring the US assets of Meyer Burger Technology AG. So far, the company has invested about USD 150 million in the United States and plans to expand this eight-fold by introducing cell manufacturing and battery storage systems.

According to Paithankar, Waaree’s continued focus on the US market is driven by strong fundamentals. The artificial intelligence boom, electrification of transport, and reshoring of manufacturing are all fuelling a surge in energy demand, with renewables emerging as the most cost-effective source of power.