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ETNOW business conclave spotlights India’s road to a $5 trillion economy
MUMBAI- India’s economic ambitions took centre stage at the ETNOW.in Business Conclave & Awards 2025, where industry stalwarts and policymakers mapped out the nation’s journey toward a $5 trillion economy by 2030. Aligned with ET NOW’s ‘Rise with India’ ethos, the event served as a strategic forum for discussions on AI, digital policy, space technology, and national security key pillars of the Viksit Bharat vision.
Union minister Jitendra Singh highlighted India’s rapid strides in the space sector, revealing that the industry attracted Rs 1,000 crore in private investments within months of opening to commercial players. He projected a fivefold expansion of India’s space economy, reaching $44 billion in the next decade, citing missions like Gaganyaan as milestones of self-reliance.
Former union minister and tech investor Rajeev Chandrasekhar made a compelling case for revamping India’s outdated IT laws, stressing that the 25-year-old IT Act fails to account for the Internet and AI—two transformative forces driving the digital economy. “A modern, entrepreneur-first legal framework is needed, free from unnecessary bureaucratic hurdles,” he asserted.
Governor of Arunachal Pradesh, Lt. Gen. K.T. Parnaik (Retd.), underscored the role of strong border security and infrastructure in economic growth, detailing Arunachal Pradesh’s potential as a hydropower hub with a capacity of 58,000 MW.
The ETNOW.in Business Conclave & Awards 2025 honoured excellence across 82 categories, recognising industry leaders driving innovation and impact. Naveen Kukreja (Paisabazaar.com) and Ashish Kashyap (IND Money) were named ETNOW Industry Icons, while Central Park Flower Valley secured the Leading Township of the Year award.
ACT21 Software Pvt. Ltd. was celebrated for Excellence in Fintech with its HyPerform solution, and VAXIFLU-4 (Zydus) received the Service Excellence Award in Vaccines & Prevention. In the branding space, U.S. Polo was recognised for its Excellence in Marketing Campaign (2024-2025), while Exhale Label emerged as the Emerging Fashion Brand, reinforcing its growing influence in the fashion industry.
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Induction cooktop demand spikes 30× amid LPG supply concerns
Supply worries linked to West Asia tensions push households and restaurants to turn to electric cooking alternatives
MUMBAI: As geopolitical tensions in West Asia ripple through global energy supply chains, the familiar blue flame in Indian kitchens is facing an unexpected challenger: electricity.
What began as concerns over the availability of liquefied petroleum gas (LPG) has quickly evolved into a technology-driven shift in cooking habits. Households across India are increasingly turning to induction cooktops and other electric appliances, initially as a backup but now, for many, a necessity.
A sudden surge in demand
Recent data from quick-commerce and grocery platform BigBasket highlights the scale of the shift. According to Seshu Kumar Tirumala, the company’s chief buying and merchandising officer, demand for induction cooktops has risen dramatically.
“Induction cooktops have seen a significant surge in demand, recording a fivefold jump on 10 March and a thirtyfold spike on 11 March,” Tirumala said.
The increase stands out sharply when compared with broader kitchen appliance trends. Most appliance categories are growing within 10 per cent of their typical demand levels, while induction cooktops have witnessed explosive growth as households rush to secure an alternative cooking option.
Major e-commerce platforms including Amazon and Flipkart have reported rising searches and orders for induction stoves. Quick-commerce apps such as Blinkit and Zepto have also witnessed stock shortages in major metropolitan areas including Delhi, Mumbai and Bengaluru.
What was once considered a convenient appliance for hostels, small kitchens or occasional use has suddenly become an essential addition in many homes.
A crisis thousands of miles away
The trigger for this shift lies far beyond India’s kitchens.
Escalating conflict in the Middle East has disrupted shipping routes through the Strait of Hormuz, one of the world’s most critical energy corridors. Nearly 85 to 90 per cent of India’s LPG imports pass through this narrow waterway, making the country particularly vulnerable to supply disruptions.
The ripple effects have been swift.
India currently meets roughly 60 per cent of its LPG demand through imports, and tightening global supply has already begun to affect domestic availability and prices.
Earlier this month, the price of domestic LPG cylinders increased by Rs 60, while commercial cylinders rose by more than Rs 114.
To discourage panic buying and hoarding, the government has also extended the mandatory waiting period between domestic refill bookings from 21 days to 25 days.
Restaurants feel the pressure
The strain is not limited to households. Restaurants, hotels and roadside eateries are also grappling with supply constraints as commercial LPG availability tightens under restrictions imposed through the Essential Commodities Act.
In cities such as Bengaluru and Chennai, restaurant associations report that commercial LPG availability has dropped by as much as 75 per cent, forcing many establishments to rethink their kitchen operations.
Some restaurants have reduced menu offerings, while others are rapidly installing high-efficiency induction systems, creating hybrid kitchens where electricity now shares the workload with gas.
For smaller eateries and roadside dhabas, the shift is less about sustainability and more about survival.
A potential structural shift
The government has maintained that there is no nationwide LPG crisis and has directed refineries to increase production to stabilise supply.
Nevertheless, the developments of March 2026 may already be triggering a longer-term behavioural shift.
For decades, LPG has been the backbone of cooking in Indian households. However, recent disruptions have highlighted the risks of relying on a single fuel source.
Increasingly, households appear to be hedging against uncertainty by adopting electric cooking options to guard against price volatility and delivery delays.
If the current trend continues, the induction cooktop, once viewed as a niche appliance, could emerge as a quiet symbol of India’s evolving kitchen economy.
