Government’s surgical strike on inflation, import duty on 41 petrochemical products abolished, everything from shampoo to medicines will become cheaper.

News India Live, Digital Desk: Amidst the ongoing fierce war between Iran, Israel and America in West Asia (Middle East) and the disruptions in the global supply chain, the Government of India has taken a historic decision. To control inflation in the domestic market and provide relief to industries, the Finance Ministry has completely removed the import duty (customs duty) on 41 essential petrochemical products. After this notification issued on Thursday, April 2, 2026, now the raw materials used in sectors like plastics, medicines and packaging will become cheaper. Why was this big decision taken? Global Crisis: Due to tension in West Asia, crude oil prices have reached a record of $ 122 per barrel. The supply chain has been badly affected due to disruption in the movement of ships in the ‘Strait of Hormuz’. Control on inflation: Due to the cost of crude oil, the cost of petrochemical products had increased, which was directly affecting the pockets of the common man. Earlier, the government had reduced the excise duty on petrol and diesel by Rs 10 per liter, now this is the second big step. Temporary relief: This exemption will be effective from April 2, 2026 to June 30, 2026, so that domestic industries do not face shortage of raw materials. What will be cheaper? (List of major products) The 41 products on which the government has reduced duty to zero include raw materials of daily use: Chemicals: Manol, Toluene, Styrene, Anhydrous Ammonia, Vinyl Chloride Monomer. Plastics and Polymers: Polyethylene (PE), Polypropylene (PP), Polystyrene, Polyvinyl Chloride (PVC), PET chips. Industrial Raw Materials: Phenol, Acetic Acid, Purified Terephthalic Acid (PTA), Monoethylene Glycol (MEG). Specialty Chemicals: Epoxy Resin, Polyurethane, Polyols. These sectors will get direct benefits: Pharma (Drug Industry): Chemicals used in manufacturing of many medicines will become cheaper. FMCG and Packaging: Packaging cost of shampoo, soap, detergent and bottles will reduce. Automobile: Cars and bikes The prices of plastic and rubber components used in manufacturing will decrease. Textile (Textile Industry): With the removal of duty on PTA and MEG used in the manufacturing of synthetic fibers and threads, clothes can become cheaper. The Finance Ministry believes that this ‘targeted relief’ will provide relief to domestic manufacturers and will reduce the prices of the final product, which will directly benefit crores of consumers in the country.