Government grants full customs duty exemption on critical petrochemical products in view of ongoing conflict in West Asia: Finance Ministry

Amid the ongoing conflict in West Asia and the consequent disruptions in global supply chains, the Government of India has decided to provide full Customs Duty exemption on critical petrochemical products till 30th June, 2026, the ministry of finance noted in a statement. This measure has been taken as a temporary and targeted relief in order to ensure continued availability of critical petrochemical inputs for domestic industry, reduce cost pressures on downstream sectors, and safeguard supply stability in the country. 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.