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PETROCHEMICAL DUTY RELIEF
Government may lift fuel-supply safeguards once West Asia crisis abates: OfficialIndia plans to ease emergency energy measures as global tensions subside. These steps were taken to ensure fuel availability amid West Asia...- India weighs extending 40-product import duty exemption beyond June 30 amid West Asia tensionsThe government will decide on extending import duty exemptions for 40 products after June 30. This decision hinges on the evolving situatio...
- Strait of Hormuz reopening to ease oil supply risks for India as US-Iran reach truce dealA "toll free" reopening of the Strait of Hormuz, following a US-Iran ceasefire agreement, promises significant relief for India's crude oil...
- Call to extend duty cuts on critical inputs soonIndia is set to decide on extending customs duty relief for critical raw material imports beyond June 30. An inter-ministerial panel will r...
- Duty relief may be extended for petrochemical inputs for pharmaRavi Teja, deputy director at the Department of Commerce, told reporters in Hyderabad on Tuesday that a review is underway for a possible e...
- India seen to line up three buffers for its economy amid the Iran storm: Fitch unitIran War: The Indian government is seen to focus on securing essential supplies, curbing business costs through subsidies and tax relief, a...
- Iran-US war pushes polymer, resin prices up 60%; plastics exporters squeezed despite ceasefireFreight rates jump up to 10x, polymer prices rise 60%, while supply disruptions and supply chain delays strain MSMEs and the sector's expor...
- From $300 to $8,500 freight: West Asia war squeezes UP MSMEs, delays stretch to 60 daysExporters report shipment delays of up to 60 days, 20-30% cost escalation, and growing order uncertainty due to the West Asia conflict.
- Textile exporters urge govt to waive cotton import dutyIndian textile and garment exporters are calling for the removal of an 11% import duty on cotton. Domestic cotton prices have surged, impac...
- Key petrochemical products get 3 month import duty reliefIndia has waived customs duty on key petrochemical imports until June 30. This move provides relief to sectors like pharmaceuticals, chemic...
- West Asia crisis: Govt discusses ways to scale up production of induction heaterThe government is discussing ways to increase the production of induction heaters and their matching utensils. This comes as demand surges ...
- A shield for India Inc: How govt is blunting the Iran war shockWest Asia crisis: In response to Iran war chaos, India has rolled out a set of targeted measures over the past few weeks aimed at cushionin...
- Rajnath Singh chairs IGoM meet, urges constant vigil over West Asia crisisDefence Minister Rajnath Singh led a crucial meeting on the West Asia conflict. The government is closely monitoring the situation. Measure...
- Indian pharma sector faces supply risk amid West Asia conflict despite duty waiverIndia's pharmaceutical industry faces ongoing concerns about securing essential petrochemical supplies due to the West Asia conflict. While...
- West Asia crisis: Govt to assess impact of recent tax concessions on its indirect tax revenuesIran war: The review will factor in revenue implications from duty relief measures announced to cushion industries from supply disruptions,...
- Petchem relief to cost Rs 1,800 crore in 3 months: GovernmentThe government anticipates a revenue loss of approximately Rs 1,800 crore over the next three months. This is due to measures being impleme...
- Extension of export obligation period for chemical imports to provide relief to exporters: GovtThe government has extended the export obligation period for chemical imports. This extension, under the advance authorisation scheme, move...
- Government rejects Haldia Petro's plea of custom duty relaxationHPL had obtained advance license for importing naphtha at zero duty, for which the company was supposed to meet export obligation norms.
- Budget 2015: A mixed bag for oil and gas sectorSAD on naptha, ethylene dichloride, vinyl chloride monomer and styrene monomer for manufacture of excisable goods has been halved to 2%.
- Govt halves duty on many items from ThailandAhead of any possible objection arising from commencement of the election process, the government on Friday reduced customs duty on a whole...
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