New Delhi, June 10 -- India will consider extending import tax exemptions on petrochemicals used for making plastics ​and pharmaceutical goods beyond June 30 to help local industries, Ravi Teja, deputy director at the Department of Commerce, said on Tuesday.

In April, India suspended the import tax on ​40 petrochemical products until June 30 to help industries across sectors that are grappling with pharmaceuticals shortages caused by the Iran war.

India is a net importer of such petrochemical derivatives though ‌it ⁠also produces them domestically using feedstocks such as liquefied petroleum gas, naphtha, and ethane.

"They (Ministry of Commerce) are monitoring the situation. Final Decision on extension will be t...