West Asia Crisis: Govt Discusses Ways To Scale Up Production Of Induction Heaters

The government on Friday held discussions on measures to encourage companies to ramp up production of induction heaters and compatible utensils amid rising demand for these products due to concerns over LPG availability following the West Asia crisis, an official said.

The crisis has disrupted the movement of ships carrying oil and gas through the Strait of Hormuz, raising concerns over cooking gas supplies and prompting people to rush to buy induction heaters and compatible utensils.

The meeting, chaired by Commerce and Industry Minister Piyush Goyal, was attended by senior officials, including Power Secretary Pankaj Agarwal, Director General of Foreign Trade (DGFT) Lav Agarwal, and Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Amardeep Singh Bhatia.

"We discussed how we can speed up and increase the production of induction heaters and vessels that go on those heaters (utensils like an induction cooker, etc.)," the official said.

The demand for these goods is increasing, and they are being sold as hot cakes, the official added.

Sales of induction cooktops and electric kettles have surged in the wake of cooking gas supply concerns due to the war in West Asia, according to industry players.

To maintain the supply chain in other sectors, the government on Thursday exempted the import of critical petrochemical products from customs duty for three months till June 30, giving relief to sectors like pharmaceuticals, chemicals and textiles, and ensuring supply stability amid the ongoing West Asia crisis.

Sectors dependent on petrochemical feedstock and intermediates such as plastics, packaging, textiles, pharmaceuticals, chemicals, automotive components and other manufacturing segments will benefit from the duty exemption which will cost the exchequer Rs 1,800 crore.

Disruption in shipping routes amid the West Asia war has raised concerns over imports of fertiliser, crude oil and natural gas. India is a major importer of fertiliser and petroleum.

Global crude prices have risen by almost 50 per cent since the United States and Israel launched military strikes against Iran on February 28, triggering sweeping retaliation from Tehran.