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Government Cuts Customs Duty on Petrochemical Raw Materials in Surat

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Surat, April 3 (IANS) The Central government has reduced the basic customs duty on more than 40 key petrochemical raw materials to zero for a period of three months, a move expected to ease cost pressures on Surat’s textile and plastics industries amid rising global input prices.The duty, earlier set at 7.5 per cent, has been cut to nil on materials including purified terephthalic acid (PTA) and monoethylene glycol (MEG), both critical inputs for man-made fibre production.The relief will remai…