India acts to shield economy from West Asia conflict impacts
India's government is rolling out measures to cushion the economy as the West Asia conflict may have a residual impact on shipping and insurance costs.
Commerce Minister Piyush Goyal says energy supplies like LPG and LNG are back up to 80%, helping keep things steady at home.
India waives petrochemical import duties
To help businesses, India is giving a full break on import duties for crucial petrochemical feedstocks and products such as polymers, resins, polyethylene, polypropylene, PVC, styrene, and methanol from now until June 2026.
Goyal emphasized these moves are all about keeping supply chains moving and making sure everyday essentials stay available, even as global trade faces some turbulence.
Piyush Goyal: peace shields industries, consumers
Goyal also noted that India's push for peace and dialogue is getting international support, which he says helps protect both local industries and consumers from the ripple effects of global disruptions.