India cuts petrochemical tariffs until June 30 to stabilise supplies

Indian authorities have decided to temporarily lift customs duties on key petrochemical products in response to supply disruptions caused by the US and Israeli military operations against Iran.

According to the Indian media, which refers to the Indian Ministry of Finance, the measure will remain in effect until June 30, 2026, and is aimed at supporting domestic industry and stabilising supply chains, Caliber.Az reports.

The ministry emphasised that the decision will help ensure the availability of raw materials, reduce costs for processing industries, and prevent market disruptions.

The exemptions will affect sectors including plastics, packaging, textiles, pharmaceuticals, chemicals, and automotive components.

The escalation stems from military actions in the Middle East, which have already resulted in strikes on Iranian territory and retaliatory attacks, as well as restrictions on shipping through the Strait of Hormuz — a critical route for oil and petrochemical shipments.

By Bakhtiyar Abbasov