India is prepared to reduce import duties and, where necessary, regulate exports to ensure sufficient availability of goods within the domestic market whle Iran war hurts supply chains, Reuters reported citing the country’s head of foreign trade.
This underscores how escalating geopolitical tensions and armed conflicts are redrawing global supply chains, disrupting the steady flow of commodities, components and critical inputs. From energy and fertilisers to semiconductors and food staples, the Iran war has injected volatility into trade routes, freight costs and sourcing strategies, forcing nations to prioritise domestic resilience over efficiency.
For India, which remains heavily reliant on imports in key sectors, the shocks have exposed vulnerabilities that could ripple through inflation, manufacturing output and food security.
Earlier, the government extended tax benefits for exporters under the RoDTEP scheme by six months, until September 30, due to disruptions in global trade caused by the ongoing West Asia crisis. The Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, launched in 2021, refunds exporters for certain taxes, duties and levies they pay during the production and distribution of goods, which are not covered by any other central, state or local scheme.
The government on Thursday had also removed customs duy on several critical petrochemical products till June 30th, in light of the ongoing war in the Middle East and the consequent disruptions in global supply chains.
Source Name : Economic Times