Centre grants full customs duty exemption on critical petrochemical products
Thu, 02 Apr 2026 05:42:46 GMT
The government has decided to provide full customs duty exemption on critical petrochemical products till June 30, 2026, amid the ongoing conflict in West Asia and the consequent disruptions in global supply chains, the Finance Ministry said on Thursday.
The measure, said the ministry in a statement, has been taken as a temporary and targeted relief in order to ensure continued availability of critical petrochemical inputs for domestic industry, reduce cost pressures on downstream sectors, and safeguard supply stability in the country.
“The exemption is expected to benefit a wide range of sectors dependent on petrochemical feedstock and intermediates, including plastics, packaging, textiles, pharmaceuticals, chemicals, automotive components and other manufacturing segments,” the official statement said.
