Centre waives import duty on 40 chemicals:Big relief for petrochemical, plastic, fertilizer and resin industries; valid till June 30

The central government has provided major relief to the petrochemical industry by waiving import duties on key raw materials. The Ministry of Finance (Department of Revenue) issued two extraordinary notifications in the Gazette of India on April 1, 2026. Under these notifications, the Basic Customs Duty on around 40 key chemicals, monomers, and polymers has been reduced to zero. Additionally, the Agriculture Infrastructure and Development Cess on ammonium nitrate has also been waived. The exemptions will come into effect from April 2 and remain valid until June 30, 2026. Industry welcomes move, sees cost benefits According to the President of the Association of Industries Madhya Pradesh, Yogesh Mehta, the decision has been taken in the public interest and will significantly benefit industries, especially in Madhya Pradesh. He noted that the move will reduce the import cost of raw materials, improve the competitiveness of domestic manufacturers, and help keep prices of finished products under control. The relief will primarily benefit sectors such as plastics, paints, resins, pharmaceuticals, fertilisers, polymers, and speciality chemicals. Expected impact on industry The move is expected to deliver multiple benefits: Overall, the decision is likely to stabilize supply chains, reduce input costs, and support industrial growth in the coming months.