More decisions are on the anvil and under discussions at various levels to deal with the situation arising out of the war in West Asia, Commerce and Industry Minister Piyush Goyal said Thursday
The minister said despite the war India has shown tremendous resilience in food security, energy security and all broad areas of the economy.
“There may be some residual impact on shipping costs, on insurance cost or availability, on which some decisions have been made through the relief package announced by the Commerce Ministry some time back,” he added. As part of relief measures, the government is looking at providing some freight subsidies.
From April 1, 2026 the Directorate General o Foreign Trade (DGFT) has extended the flagship tax refund scheme on exports – Remission of Taxes and Duties on Exported Products (RoDTEP) for another six months.
A scheme RELIEF has also been announced for credit insurance to exporters, with special focus on MSMEs. Duties have been adjusted on many industrial inputs on Thursday that will benefit plastics, HDPE and many downstream petrochemical industries.
Goyal said industrial LNG supplies have been reinstated now to 80% level, with many sectors getting full LNG. “There is no shortage of petroleum products. Our refineries are working full stream. There is sufficient stock of crude oil. And new shipments coming in of crude oil, LPG and LNG to ensure a pipeline for the future.”
TOPICSPiyush GoyalThis article was first uploaded on April two, twenty twenty-six, at fifty-six minutes past nine in the night.