India removes import duty on key petrochemical feedstocks
Import duty reduced to zero on major chemical inputs
Change
India exempted basic customs duty on multiple petrochemical feedstocks including methanol, styrene and PTA, reducing import duty to nil.
Why it matters
Lower import duties immediately reduce input costs across plastics, packaging and industrial manufacturing supply chains.
Implications
- — Input costs decline — manufacturing margins improve
- — Import volumes may increase — domestic producers face pressure
Who is affected
- — Manufacturers
- — Importers
What to watch
- — Impact on domestic chemical producers