The Government has decided to provide full Customs Duty exemption on critical petrochemical products till 30th June, 2026, in view of the ongoing conflict in West Asia and the consequent disruptions in global supply chains. The Ministry of Finance has said that this measure has been taken as a temporary and targeted relief to ensure the continued availability of critical petrochemical inputs for the domestic industry. It noted that the step will help reduce cost pressures on downstream sectors and safeguard supply stability in the country.

 

The Ministry has said that the exemption is expected to benefit a wide range of sectors dependent on petrochemical feedstock and intermediates. These include plastics, packaging, textiles, pharmaceuticals, chemicals, automotive components and other manufacturing segments. The Ministry has added that it will also provide relief to consumers of final products.

 

The Finance ministry, in a statement, noted a total of 40 goods on which the customs duty have been exempted, which include Methanol, Anhydrous ammonia, Toluene, Styrene, Dichloromethane (methylene chloride), and Vinyl chloride monomer, among others.