Government of India announces a temporary tax exemption on 40 categories of imported chemicals and Polymers

India has cut the basic customs duty (BCD) to Nil on 40 categories of imported chemicals and polymers to support domestic industry. The exemption is effective from 2 April to 30 June 2026. Key materials affected include: Polymers: PP, PE, PS, and PVC. Others: PET chips and various chemicals. The move reduces landed costs for converters, likely forcing domestic producers to adjust pricing to remain competitive against cheaper imports.