The Indian government has announced a full customs duty exemption on critical petrochemical products, effective until June 30, 2026, to mitigate cost pressures for industries reliant on these inputs amid ongoing conflicts in West Asia. This decision, as stated by the Ministry of Finance, aims to ensure the continued availability of essential petrochemical feedstock for sectors such as plastics, textiles, pharmaceuticals, and automotive components, ultimately providing relief to consumers of final products. The exemption is expected to result in a revenue loss of ₹1,800 crore (approximately $216 million USD) for the government. Approximately 40 petrochemical products, including anhydrous ammonia, toluene, and polypropylene, have been included in this exemption. The backdrop of rising crude oil prices and disruptions in supply chains due to geopolitical tensions has prompted this targeted relief measure. The government is also addressing supply chain bottlenecks by increasing the allocation of commercial liquefied petroleum gas (LPG) to states and union territories by 20%, bringing the total allocation to 70% of pre-crisis levels.