No plan to curb import of chemicals and petrochemicals: Govt

The government has no proposal to curb import of chemicals and petrochemicals by raising Customs duty, Chemicals and Fertilisers Minister DV Sadananda Gowda said in Parliament on Tuesday.

The import of chemicals and petrochemicals is on the rise in the last five years due to insufficient domestic supply, he said.

“Currently, there is no proposal under consideration of the Department of Revenue to increase import duty to cut down imports,” Gowda said.

Import of chemicals and petrochemicals rose to 12.66 million tonne in 2018-19 fiscal from 12.34 million tonne in 2017-18. It stood at 11.33 million tonne in 2016-17, 11.04 million tonne in 2015-16 and 10.10 million tonne in 2014-15 fiscal, he said.