India Waives Petrochemical Duties Amid West Asia Crisis: Industry Leaders React

The Indian government has waived duties on key petrochemical products to counteract supply-chain disruptions caused by the West Asia conflict. Industry leaders praise this proactive move aimed at maintaining a steady supply of essential materials crucial for the pharmaceutical and medical sectors.

By Shalini Bhardwaj — In a decisive response to tensions in West Asia, the Indian government has waived duties on essential petrochemical products. This strategic move, announced by the Central government, aims to facilitate the timely movement of necessary goods, ensuring minimal disruption to critical supply chains.

The Indian Pharmaceutical Alliance commended the decision, highlighting its potential to mitigate supply-related challenges exacerbated by the conflict. Sudarshan Jain, Secretary General of the Alliance, lauded the government for its proactive stance, noting the importance of the Empowered Committees of Secretaries in maintaining coordination among stakeholders.

Industry leaders, including Himanshu Baid of Poly Medicure Ltd and Nikkhil K Masurkar of ENTOD Pharmaceuticals, expressed appreciation for the duty waiver on inputs such as Polycarbonate and PVC resin. Their exemption offers significant relief to the medical consumables sector and strengthens the competitiveness of Indian pharmaceutical exports by reinstating RoDTEP rates.

(With inputs from agencies.)