What Happened
India has waived customs duties on 40 petrochemical products until June 2026, costing an estimated 18 billion rupees.
Why It Matters
This emergency measure aims to counter supply disruptions from the Middle East conflict, stabilize prices, and support key industries like plastics, pharmaceuticals, and textiles by ensuring raw material availability and reducing production costs.
Background Context
India has waived customs duties on 40 petrochemical products until June 2026, costing an estimated 18 billion rupees. This emergency measure aims to counter supply disruptions from the Middle East conflict, stabilize prices, and support key industries like plastics, pharmaceuticals, and textiles by ensuring raw material availability and reducing production costs.
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Source: Times of India – Original Link
Source: Times of India
