An inter-ministerial panel monitoring the impact of the Iran war is slated to meet next week to consider easing import curbs on critical inputs besides proposals to levy fresh import duties on select electronic items and parts manufactured locally. The panel will also discuss duty cut requests from pharmaceutical and steel sectors, especially inputs for critical drugs.
The Centre had in April suspended import duties on 40 petrochemical products to support downstream sectors, including plastics and pharma, amid supply disruptions caused by the Iran war. The exemptions announced in April for inputs used in plastics and drug manufacturing are due to expire this month-end.
Beyond the duty cuts, the panel will also consider offering relief measures for industries impacted by higher input costs due to the war, especially crude-linked sectors, the official said.
The meeting will be attended by officials from the finance ministry, commerce and industry ministry, and representatives from key ministries.
“The agenda will discuss three things-extension of relief measures where required, relief on some more industrial inputs, and imposition of duty on few electronics parts and products where India is self-reliant and can manufacture,” the official said.
The Centre has already extended several relief measures to the industry and small businesses to safeguard them from any external shocks, the official added.While the Centre is likely to extend duty relief on petrochemicals till September, other industries seeking relief include ceramics and diamond polishing, polyester textiles, specialty chemicals, flexible packaging, and auto components, according to the official.
A decision on restricting imports of electronics will depend on inputs from the Ministry of Electronics and Information Technology (MeitY) and commerce ministry, the official said.
Electronic goods and component imports have a high weightage on India’s import basket. Electronic goods imports totalled $116.2 billion in FY26, surpassing gold imports.
The government Thursday waived customs duty on goods imported for nuclear power generation, covering imports made between April 1, 2019, and January 31, 2026.
The move grants retrospective tax relief to eligible imports used in the country’s nuclear power sector and is expected to lower project costs for operators and equipment suppliers.