The central government on Thursday exempted a wide range of critical petrochemical products till June 30th, in light of the ongoing war in the Middle East and the consequent disruptions in global supply chains.The exemptions, effective from April 2, apply to imports ⁠of products such as ammonium nitrate, methanol, styrene, acetic acid and polyvinyl chloride, the government order said.The ‌government also exempted ammonium nitrate from ⁠the Agriculture Infrastructure and Development Cess for the same period.Detailed list of the products exemptedAnhydrous ammoniaTolueneStyreneDichloromethane (methylene chloride)Vinyl chloride monomerMethanol (methyl alcohol)Isopropyl alcoholMonoethylene Glycol (MEG)PhenolAcetic acidVinyl acetate monomerPurified Terephthalic Acid (PTA)EthylenediamineDi Ethanolamine and Mono EthanolamineToluene di-isocyanateAmmonium nitrateLinear alkylbenzenesPolymers of ethylene (including Ethylene-vinyl acetate)PolypropylenePolystyreneStyrene-acrylonitrile (SAN)Acrylonitrile-butadiene-styrene (ABS)Polyvinyl Chloride (PVC)PolytetrafluoroethylenePolyvinyl alcoholPoly (methyl methacrylate)Polyoxymethylene (POM - acetal)PolyolsPolyether Ether Ketone (PEEK)Epoxy resinsPolycarbonatesAlkyd resinsPolyethylene terephthalate (PET) chipsUnsaturated polyester resinsPolybutylene terephthalateFormaldehyde, Urea formaldehyde, Melamine formaldehyde, Phenol formaldehydePolyurethanesPolyphenylene sulphide (PPS)Polybutadiene, Styrene butadieneA clutch of industries that use petrochemicals as inputs, from pharmaceuticals and paints to textiles and toys, is facing the brunt of the Iran conflict as refiners have passed on the surge in crude oil and natural gas prices. Some of the downstream sectors in the petrochemicals complex are labour-intensive small enterprises with low pricing power, such as textile units where distress is showing up in employment figures.These industries were looking at an extended spell of margin pressure as input costs are unlikely to subside till global petrochemicals supply chain recovers, possibly only months after hostilities end in the Persian Gulf.India's Goldilocks economic scenario of strong growth and low inflation is over. Effects of petrochem inflation are not as immediate as fuel - these appear with a lag. Packaging price rises show up in new inventory that arrives in the market with a delay. Petrochem use is almost universal in consumer goods, and the ticket shock, though slow and imperceptible, shows up over time. The price transmission works through labour-intensive industries and affects lower-income consumers.Read more at:https://economictimes.indiatimes.com/news/economy/foreign-trade/india-exempts-some-chemicals-from-import-duty/articleshow/129965430.cms (ICE MUMBAI)

Fonte notizia: The Economic Times