India will lose nearly Rs 50,000 crore in foreign exchange if solar developers are given exemption from basic customs duty on Chinese imports, the All India Solar Industries Association (AISIA) has said. On July 1, Power and New and Renewable Energy Minister R K Singh had said that Chinese imports for public solar projects will be exempted from duty if power purchase agreements are signed before implementation of duty, which is proposed from August 1 this year. With safeguard duty scheduled to end on July 31, the government has proposed to impose a 20-25 per cent basic customs duty on solar modules and around 15 per cent on cells, that will gradually go up to 40 per cent for both.