ITV News
What is the Essential Commodities Act that India invoked to safeguard fuel amid Iran war?
Government prioritises household gas and transport fuel as Iran conflict threatens global oil supply
MUMBAI: India has invoked the Essential Commodities Act (1955) to safeguard the nation’s energy security as the conflict involving Iran, Israel, and the US intensifies. With the Strait of Hormuz facing potential closure, the government is moving to prevent fuel shortages and stop price gouging in the domestic market. By triggering the Natural Gas (Supply Regulation) Order 2026, officials have established a strict hierarchy for gas distribution, with the primary goal of ensuring that homes and public transport do not run out of fuel, even if global supplies are choked by the war.
Under the new rules, a tiered allocation system has been mandated based on the average consumption of the past six months. Household piped gas, LPG (cooking gas), and CNG for transport have been given top priority and will receive 100 per cent of their required supply. The fertilizer sector has seen its supply cut to 70 per cent to divert resources elsewhere, while non-essential industrial units are restricted to 80 per cent of their usual intake. Additionally, refineries are now prohibited from using propane for plastic production, as these gases must be redirected to create LPG for kitchens.
Legally, the Essential Commodities Act is a crisis-era law that allows the Centre to control the production and distribution of vital goods. In this instance, it grants the government the power to set price caps and prevent traders from hoarding fuel in anticipation of higher prices. While the 2020 amendment to the Act limited government intervention in agricultural markets, it specifically retained the authority to intervene during wartime or “extraordinary circumstances.”
The ripple effects of the West Asian conflict are already being felt in major cities, with hubs like Pune and Bengaluru reporting difficulties in securing gas cylinders for commercial businesses. By invoking these emergency powers now, the government aims to stabilise the domestic market before disruptions at sea escalate into a full-scale energy crisis at home.
ITV News
Marico hands Pawan Agrawal charge of international business alongside CFO role
The consumer goods company restructures its global operations, with two regional heads now reporting to Agrawal and losing senior management personnel status from April 1st
MUMBAI: Marico Limited has given its group chief financial officer a bigger brief. The consumer goods company has elevated Pawan Agrawal to the dual role of group CFO and chief executive officer of its international business, effective April 1st, 2026, the company disclosed in an exchange filing on Wednesday.
The expanded mandate puts Agrawal in charge of Marico’s global operations across all markets, adding to his existing oversight of the company’s international business in Southeast Asia and Bangladesh. Two regional heads will now report directly to him: Binjit Kadakapcedlikayal, executive vice president for the Middle East and North Africa, and Ryan Bartram, managing director of Marico South Africa. As a result of the restructuring, both executives will cease to be classified as senior management personnel from April 1st, 2026.
Agrawal is no newcomer to the Marico story. He joined the company in 2004 and has spent over 25 years building expertise across financial planning and analysis, corporate finance, treasury, investor relations, taxation and governance. He has been a central figure in Marico’s push into digital-first brands, with acquisitions including Beardo, Just Herbs, True Elements, Plix, 4700BC and Cosmix all bearing his fingerprints.
Before Marico, Agrawal spent four years at Eveready Industries. A chartered accountant, he holds a B.Com (Hons) degree from St. Xavier’s College, Kolkata, and was named CFO of the Year in the consumer sector at the CII CFO Excellence Awards 2023-24.
Twenty-five years in the making. Marico has clearly decided Agrawal has earned the keys to the world.
