MNRE writes to finance ministry on lending to manufacturers

The MNRE has written to the Ministry of Finance seeking direction to lending institutions to prioritise lending to manufacturers that comply with the standards laid down by the Bureau of Indian Standards (BIS). The MNRE has noted that currently lenders favour Chinese suppliers as per the Bloomberg Tier I list. This acts as a deterrent for Indian players as the list mainly comprises foreign players or a few large Indian players. Last year, the MNRE made it mandatory for manufacturers or sellers of PV modules in India to obtain BIS registration.

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