Department of Petrochemicals in India accepted a threefold proposal to reduce the excise duties on polymers, plastics and petrochemicals; reduce import duty on naphtha and relaxation in duty on export of polymers. Adoption of this threefold policy will not only see India develop into a noteworthy center in the global petrochemical industry by pushing cross border sales but also cut cost, further the domestic demand and have a constructive impact on several downstream industries relying on the petrochemical products. 

Source: Plastemart

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