Middle-East Crisis: To give some sort of relief to common citizens amid rising inflation due to the West Asia crisis, the government is considering lowering customs duty on critical induction cooktop components to boost domestic manufacturing.
According to a report from news agency PTI, citing an official, in addition to custom duty reduction, the commerce and industry ministry has also recommended reducing the GST on these cooktops from 18 per cent to 5 per cent. The move aims to improve affordability among common citizens, the official said.
Gas Supply Constraint Due to the US-Iran War
The crisis has disrupted maritime oil and gas traffic in the Strait of Hormuz, raising concerns about cooking gas supplies and increasing demand for induction cooktops and compatible cookware.
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The Department for the Promotion of Industry and Domestic Trade (DPIIT), in collaboration with the Department of Commerce and the Ministry of Energy, is consulting with stakeholders to assess immediate measures needed to address supply and demand constraints in the induction cooktop market and stabilise supply and prices.
The government has taken steps to support the sector, including extending the deadline for implementing the Quality Control Order (QCO) for certain electrical appliances by six months to October 2026. The deadline for implementing the required energy efficiency standards has also been extended.
Govt Takes Initiatives
Meanwhile, speaking to the media about the steps taken to mitigate the impact of the crisis, DPIIT Assistant Secretary Nidhi Kesarwani said that the Petroleum and Explosives Safety Organisation (PESO) has taken several simple and safety measures to ensure the uninterrupted availability of fuel and gas during the current crisis.
Temporary Storage Relaxation For Kirosean Oil
Temporary storage relaxation has been granted for high-quality kerosene oil, allowing storage of up to 2,500 litres. He added that in order to promote decentralised LNG supply and enhance fuel flexibility during disruptions, directives allowing LNG filling in cryogenic cylinders have been issued.
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Other steps taken by the PESO include allowing LPG unloading at Porbandar jetty and temporarily waiving the requirement of approval of CNG/CBG compressors for six months to expedite the work of dispensing stations.
(With Input from PTI)