Amid disruptions in global supply chains triggered by the West Asia conflict, the government has extended the zero customs duty exemption on nearly 40 critical petrochemical products by 15 days until July 15, with the aim of ensuring steady supplies and supporting domestic industries.
The duty exemption, introduced on April 2 as a temporary relief measure and set to lapse on June 30, has been extended further through a notification issued by the Finance Ministry on Tuesday.
The move is expected to provide relief to industries that rely heavily on petrochemical feedstock and intermediates, including packaging, plastics, textiles, pharmaceuticals, chemicals, automotive components and other manufacturing sectors.
The exemption covers several key products such as methanol, anhydrous ammonia, toluene, styrene, dichloromethane (methylene chloride), vinyl chloride monomer, polybutadiene, styrene-butadiene and unsaturated polyester resins.
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The government had earlier stated that the duty relief was aimed at ensuring uninterrupted availability of essential raw materials for domestic industries, reducing cost pressures on downstream sectors and supporting consumers of finished products.
The extension comes amid concerns over supply disruptions caused by tensions in West Asia, which have impacted shipping routes and raised uncertainty around imports of critical commodities, including crude oil, natural gas and fertilisers.
India, being a major importer of petroleum products and fertilisers, has been closely monitoring the impact of geopolitical developments on global trade flows.
The Centre's decision is being viewed as a targeted and temporary measure to cushion domestic manufacturers from potential supply shortages and price volatility while ensuring steady availability of key industrial inputs.
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