Govt cuts customs duty on critical petrochemical pdts to nil amid W Asia war
This story was originally published at 13:23 IST on 2 April 2026
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By Anand JC and Sunil Raghu
NEW DELHI/AHMEDABAD – The Centre has granted full customs duty exemption on critical petrochemical products till Jun. 30, amid the ongoing war in West Asia, according to a gazette notification issued Wednesday. The exemption, which has been granted starting Friday, applies to a host of products to ensure the continued availability of critical petrochemical inputs, and is only a temporary and targeted relief measure, the Ministry of Finance said in a press release.
The ongoing war in the Persian Gulf has led to a sharp surge in crude oil prices, driven by severe disruption in the movement of critical energy raw material through the Strait of Hormuz. "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. This will also provide relief to consumers of final products," the ministry said.
"It is a big relief," Anand Desai, the managing director of Anupam Rasayan, told Informist. "...because the increase of the imported products has been so high that the import duty (reduction) of 8-12% will be quite helpful," Desai said.
Inputs that have seen a customs duty cut include anhydrous ammonia, Toluene, Styrene, Vinyl chloride monomer, and others. Overall, customs duty has been reduced to nil across 40 different products. End
Edited by Akul Nishant Akhoury
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