Union Government Waves Duties On Imports Of Critical Petrochemical Products Amid Iran War
New Delhi: As consequent disruptions in global supply chains, the Indian government on Thursday waived a wide range of critical petrochemical products till June 30th. The supply chain disruption continue to hit the country’s economy after Iran closed the Strait of Hormuz following the US-Israeli attack against the Islamic Republic.
The union government’s decision applies to imports of products such as ammonium nitrate, methanol, styrene, acetic acid and polyvinyl chloride.
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A lot of products have been exempted which include: Anhydrous ammonia, Toluene, Styrene, Dichloromethane (methylene chloride), Vinyl chloride monomer, Methanol (methyl alcohol), Isopropyl alcohol, Monoethylene Glycol (MEG), Phenol, Acetic acid, Vinyl acetate monomer, Purified Terephthalic Acid (PTA), Ethylenediamine, Di Ethanolamine and Mono Ethanolamine, Toluene di-isocyanate, Ammonium nitrate, Linear alkylbenzenes, Polymers of ethylene (including Ethylene-vinyl acetate), Polypropylene, Polystyrene and Styrene-acrylonitrile (SAN).
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The affected products also include Acrylonitrile-butadiene-styrene (ABS), Polyvinyl Chloride (PVC), Polytetrafluoroethylene, Polyvinyl acetate, Polyvinyl alcohol, Poly (methyl methacrylate), Polyoxymethylene (POM – acetal), Polyols, Polyether Ether Ketone (PEEK), Epoxy resins, Polycarbonates, Alkyd resins, Polyethylene terephthalate (PET) chips, Unsaturated polyester resins, Polybutylene terephthalate, Formaldehyde, Urea formaldehyde, Melamine formaldehyde, Phenol formaldehyde, Polyurethanes, Polyphenylene sulphide (PPS) and Polybutadiene, Styrene butadiene
