Exemption will benefit sectors dependent on petrochemical feedstock and intermediates such as plastics, packaging, textiles, pharmaceuticals, chemicals, automotive components, other manufacturing segments and provide relief to consumers of final products, according to an official statement.
This measure has been taken as a temporary and targeted relief in order to ensure continued availability of critical petrochemical inputs for domestic industry, reduce cost pressures on downstream sectors, and safeguard supply stability in the country, it added.
Read here: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2248110®=3&lang=1
