News Broadcasting
Moneycontrol Startup Conclave 2024: Insights from policymakers, investors & entrepreneurs
Mumbai: The Moneycontrol Startup Conclave 2024 presented valuable insights and strategic discussions, attracting industry giants, visionary entrepreneurs, and thought leaders from across the country. Held at ITC Gardenia in Bengaluru, the conclave, themed “Persist | Reset | Rebuild,” captured the essence of resilience and innovation needed to navigate today’s challenging startup landscape.
The event was organised to spotlight the transformative growth of India’s startup ecosystem. As innovation and entrepreneurship reach new heights, the conclave provided a crucial platform for key stakeholders to engage in meaningful dialogue. By facilitating the exchange of ideas and the formation of strategic partnerships, the event played a pivotal role in shaping the future trajectory of startups in India, underscoring the nation’s role as a global hub for entrepreneurial excellence.
To give a boost on the rise of the startup eco-system in Bengaluru, minister of electronics, IT & BT and rural development & panchayat raj, government of Karnataka – Priyank Kharge highlighted the state’s role in supporting the startup ecosystem, stating, “Karnataka continues to be at the forefront of innovation, and our government is committed to supporting startups with progressive policies and world-class infrastructure.”
India’s G20 Sherpa Amitabh Kant underscored the importance of startups in driving economic growth. “The future of India’s economy lies in the success of our startups. Their innovation and job creation capabilities are key to our nation’s progress,” Kant emphasised.
The day featured dynamic panel discussions with prominent entrepreneurs such as Zepto co-founder and CEO Aadit Palicha; Swiggy co-founder and group CEO Sriharsha Majety; Sorin Investments founder and chairman Sanjay Nayar; Delhivery co-founder and CEO Sahil Barua; PhonePe co-founder and CEO Sameer Nigam; Curefoods founder and CEO Ankit Nagori; Groww co-founder and CEO Lalit Keshre; Ixigo co-founder and group CEO Aloke Bajpai and SoftBank Investment Advisers managing partner Sumer Juneja. Topics ranged from quick commerce and workspace evolution to fintech innovations and the future of AI in startups. These sessions provided a wealth of knowledge, highlighting the achievements of industry leaders and offering a glimpse into the future of business in India.
Narayana Health founder and chairman Dr. Devi Shetty discussed the pivotal role of startups in healthcare. “Startups are revolutionizing healthcare, making it more accessible and affordable. Their contributions in the next decade will be groundbreaking,” Shetty observed.
SoftBank Investment Advisers managing partner Sumer Juneja highlighted the significant impact of their investments in India. “India has been an exceptional market for us, both in terms of investments and exits. Our focus now is on identifying the next wave of visionary leaders who can drive the future of innovation.”
Swiggy co-founder and group CEO Sriharsha Majety emphasised the unique dynamics of quick commerce in India, stating, “As the sector grows, we expect a significant reconfiguration in the supply chain, likely impacting traditional retail. A substantial portion of our revenue now comes from D2C brands, and as we prepare for our IPO, our focus remains on clear communication and long-term growth.”
The Moneycontrol Startup Conclave 2024 successfully created a platform for meaningful dialogue and collaboration among stakeholders. The event witnessed several in-person attendees, with many others joining via livestream.
Moneycontrol expresses its gratitude to all the distinguished speakers, esteemed guests, and partners, including IDFC FIRST Bank – Always You First (banking partner), DTDC (exclusive logistics partner), Peak XV (VC partner), IndiQube (workplace partner), and associate partners Games24x7, Share.Market, Adobe, Tally, Reliance India Ltd, KITS (state partner), Da Milano Italia (Luxury Partner), and Townhall (event technology partner). The participation of these partners and media personnel contributed significantly to the success of the Startup Conclave 2024. The event stands as a testament to the resilience, innovation, and determination of the Indian startup community.
News Broadcasting
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.
