Big relief for Industry: Govt extends customs duty waiver till July 15 amid West Asia crisis

In an official statement, the government said the exemption was introduced to ensure adequate availability of petrochemicals in the domestic market, as Indian petroleum companies had been directed to focus on the production of LPG during the period of disruption.

“As the situation is gradually normalising, to ensure a smooth and non-disruptive transition for the affected sectors, it has been decided to extend the said exemption by a further period of 15 days, that is, till 15th July 2026,” the statement said.

The government further clarified that the list of products covered under the exemption remains unchanged from the earlier notification.

Reiterating its support for domestic industry, the statement said the move is expected to benefit sectors dependent on petrochemical feedstock and intermediates, including plastics, packaging, textiles, pharmaceuticals, chemicals, automotive components, and other manufacturing segments. It also added that the exemption would help ease costs for consumers of finished products.

India, which remains heavily dependent on imports of fertilisers and petroleum products, has been facing supply chain concerns due to disruptions in shipping routes linked to the West Asia conflict.