New Delhi, Apr 3 (TNT): The Ministry of Finance has announced full customs duty exemption on select critical petrochemical products to ensure supply stability amid disruptions caused by the ongoing conflict in West Asia.
According to an official notification, the exemption—effective till June 30, 2026—aims to safeguard domestic industries dependent on petrochemical feedstock and intermediates, while also easing cost pressures across downstream sectors.
The move is expected to benefit a wide range of industries including plastics, packaging, textiles, pharmaceuticals, chemicals, and automotive components, besides other manufacturing segments.
The government said the decision was taken as a targeted relief measure to maintain the availability of key inputs, stabilise supply chains, and provide relief to consumers of final products.
The exemption covers a broad list of petrochemical products such as methanol, acetic acid, phenol, styrene, vinyl chloride monomer, purified terephthalic acid (PTA), and various polymers including polyethylene, polypropylene, PVC, ABS, and polystyrene.
Officials noted that the measure is aimed at reducing input costs for domestic manufacturers while ensuring continuity in production amid global supply uncertainties.
TNT
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