The Centre on Thursday announced full customs duty exemption on critical petrochemical products till June 30, 2026, citing supply disruptions arising from the ongoing conflict in West Asia.
In a press statement, the Ministry of Finance said the move is aimed at ensuring availability of essential petrochemical inputs for domestic industry and easing cost pressures across sectors dependent on these feedstocks.
The exemption covers a wide range of products, including methanol, acetic acid, Monoethylene Glycol (MEG), Polyvinyl Chloride (PVC), polypropylene, polystyrene and Purified terephthalic acid (PTA), among others.
According to the finance ministry, the measure is intended as a temporary relief to stabilise supply chains and support downstream industries such as plastics, packaging, textiles, pharmaceuticals, chemicals and automotive components. The ministry added that the decision would also provide relief to consumers by reducing input cost pressures on manufacturers.
