The Central Government has exempted import duties on crucial chemicals like ammonium nitrate, methanol, Phenol and PVC based chemicals for three months, starting April 2nd. This move aims to ease supply chains and potentially lower costs for various industries.
The decision will be a big relief to Wood Panel, Plywood, Doors, Laminates; WPC/PVC based products such as WPC Boards, Doors, PVC Edge Bands, Acrylic sheets etc. This will also provide relief to consumers of final products, the Ministry stated.
Wood Panel industry stakeholders welcome the Government decision of zero custom duty on imported products, and they view that it will be a relief for Industry as well as customers in present panic time, when the different chemicals such as Phenol, Methanol, Formaldehyde, etc prices went doubled in the past weeks.
