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India Exempts Customs Duty on Vital Petrochemicals Amid Mideast Tensions
(MENAFN) The Indian government announced on Thursday that it will temporarily exempt a selection of critical petrochemical products from customs duties to maintain supply stability and protect domestic industries and consumers from disruptions caused by the ongoing Middle East conflict, according to reports.
The exemption applies to 40 essential products, including anhydrous ammonia, methanol, toluene, styrene, vinyl chloride monomer, and polybutadiene, and will be in effect until June 30.
Officials from the federal Ministry of Finance described the measure as a temporary, targeted step designed to ensure continued access to vital petrochemical inputs, alleviate cost pressures on downstream sectors, and maintain stable supplies amid global market volatility.
The exemption applies to 40 essential products, including anhydrous ammonia, methanol, toluene, styrene, vinyl chloride monomer, and polybutadiene, and will be in effect until June 30.
Officials from the federal Ministry of Finance described the measure as a temporary, targeted step designed to ensure continued access to vital petrochemical inputs, alleviate cost pressures on downstream sectors, and maintain stable supplies amid global market volatility.
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