India has announced a three-month exemption from customs duties on essential petrochemical imports, effective until June 30. This decision aims to provide relief to sectors such as pharmaceuticals, chemicals, and textiles, ensuring stability in supply amid the ongoing conflict in West Asia. The exemption is expected to cost the government approximately ₹1,800 crore (around $217 million USD), but it is seen as necessary to maintain price stability and continuity in production. Key products benefiting from this exemption include methanol, anhydrous ammonia, toluene, and styrene. The government is also considering further reductions in import duties and regulating exports if necessary to ensure adequate domestic supplies, especially as disruptions in shipping routes due to the conflict have raised concerns about the availability of fertilizers and crude oil. This measure follows a recent cut in excise duty on petrol and diesel to shield consumers from rising crude prices, which have surged nearly 50% since military actions began in February.