Petrochemical Exemptions: Relief for Medical & Industrial Sectors

Petrochemical Exemptions: Relief for Medical & Industrial Sectors.webp

Industry bodies have welcomed the government's decision to grant customs duty exemptions on a wide range of critical petrochemical products. Speaking to the media, Ravi Rathod, General Manager for Policy and Strategic Affairs at Involution Healthcare Private Limited, stated that the decision to grant full customs duty exemptions on several petrochemical inputs will ensure the continuity of manufacturing and prevent price increases in essential medical devices. Mr. Rathod added that the decision will not only help stabilize rising input costs for the industries but also provide them with immediate relief. Meanwhile, S S Banga, Chairman of Victora Tools, described the exemptions as a major boost and stated that the step will ease input costs, improve availability, and support both domestic and export markets. He further added that these measures are expected to stabilize industries and safeguard India's exports during the current crisis, along with logistical and financial support.
 
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customs duty exemptions export markets india input costs involution healthcare manufacturing medical devices petrochemicals policy victora tools
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