New Delhi: Amid the rising concerns over LPG availability following the West Asia crisis, an official informed that the government held discussions on measures to encourage companies to increase production of induction heaters and compatible utensils. Of late, the consumption of induction cooktops and other appliances required for cooking have increased manifold amid the LPG supply constraints.
The US-Iran war has severely impacted the movement of ships carrying oil and gas through the Strait of Hormuz. The ‘closure’ of the strategic waterway has led to panic situation, prompting people to rush to buy induction heaters and compatible utensils.
West Asia crisis: Govt plans to scale up production of induction heater
The meeting was headed by Commerce and Industry Minister Piyush Goyal. 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 were present in the meeting.
“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 was quoted by PTI as saying.
The official admitted to a huge surge in the sales of the induction heaters and compatible utensils. The sales of induction cooktops and electric kettles recorded exponential jump as LPG supply got disrupted due to war in West Asia, according to industry players.
In an attempt to ensure the supply intact in other sectors, the government on Thursday exempted the import of critical petrochemical products from customs duty for three months till June 30. The critical decision was taken to provide relief to sectors like pharmaceuticals, chemicals and textiles.
US-Iran war disrupts Strait of Hormuz
The West Asia war has led to disruption in shipping routes and several countries across the globe are affected due to the energy crisis. It has raised concerns over imports of fertiliser, crude oil and natural gas.
The global crude prices have jumped around 50 per cent since US-Israel and Iran war began on February 28.