New Delhi: Industry bodies have suggested that the government temporarily suspend anti-dumping duties on critical chemical feedstocks such as polyols and other chemicals such as acrylic acid, butyl acrylate, mineral turpentine oil and white spirit to address supply chain disruptions arising from the West Asia crisis.
"Where domestic shortfalls in critical inputs, including solvents, chemical feedstocks, and other essential raw materials, risk causing production stoppages for MSMEs (micro, small and medium enterprises), we have recommended that the government consider time-bound suspension of anti-dumping duties and customs duties to bridge the supply gap," the Confederation of Indian Industry (CII) said, focusing particularly on safeguarding the operations of MSMEs.
Also Read: India's chemicals industry to reach $255 billion by 2030: Report
Another industry body has sought a reduction or removal of import duties and anti-dumping duties on polymer-based raw materials for the packaging and fast-moving consumer goods sectors including polypropylene, polyethylene, polyethylene terephthalate (PET) and high-density polyethylene resins to offset the cost escalation arising from Gulf supply chain disruptions.
These goods are critical to food packaging and essential consumer goods, and manufacturers are staring at increased prices of packaging material such as plastic and aluminium owing to their reliance on crude oil derivatives which is further squeezing margins.
Also Read: Centre waives duties on key petrochemical products amid supply disruptions due to Iran war
The CII also proposed temporary and calibrated relaxations in quality control orders, registration with the Bureau of Indian Standards, licensing and canalisation requirements where supply bottlenecks exist.
"Where domestic shortfalls in critical inputs, including solvents, chemical feedstocks, and other essential raw materials, risk causing production stoppages for MSMEs (micro, small and medium enterprises), we have recommended that the government consider time-bound suspension of anti-dumping duties and customs duties to bridge the supply gap," the Confederation of Indian Industry (CII) said, focusing particularly on safeguarding the operations of MSMEs.
Also Read: India's chemicals industry to reach $255 billion by 2030: Report
Another industry body has sought a reduction or removal of import duties and anti-dumping duties on polymer-based raw materials for the packaging and fast-moving consumer goods sectors including polypropylene, polyethylene, polyethylene terephthalate (PET) and high-density polyethylene resins to offset the cost escalation arising from Gulf supply chain disruptions.
These goods are critical to food packaging and essential consumer goods, and manufacturers are staring at increased prices of packaging material such as plastic and aluminium owing to their reliance on crude oil derivatives which is further squeezing margins.
Also Read: Centre waives duties on key petrochemical products amid supply disruptions due to Iran war
The CII also proposed temporary and calibrated relaxations in quality control orders, registration with the Bureau of Indian Standards, licensing and canalisation requirements where supply bottlenecks exist.
