ITC Chairman Sanjiv Puri said Indian industry is exploring alternative energy solutions like LPG reuse and other fuels to manage costs amid global volatility. He noted that companies are focusing on energy diversification to manage disruptions.
Indian industry is increasingly exploring alternative energy solutions such as LPG reuse and shifting to other fuel sources to manage costs amid a volatile global environment, Sanjiv Puri, Chairman and Managing Director, ITC Limited. "Industry is necessarily looking at alternatives in specific areas of pain points, like, for example, on energy -- reuse of LPG, looking at other sources of fuel. So these are some of the things that industry is really looking at for the moment," Puri told ANI on the sidelines of the "Transforming for Tomorrow: Growth with Resilience" event in New Delhi.
Industry Adapts to Global Challenges
His remarks come amid global supply disruptions and tensions, including concerns around the Strait of Hormuz, a critical energy transit route, which has affected markets and supply chains worldwide.
Puri highlighted that industry is adapting to a challenging landscape by reassessing strategies, identifying key pain points, and deploying efficiency measures. Companies are increasingly focusing on energy diversification, operational flexibility, and resilience to manage ongoing disruptions.
Government's Proactive Role Lauded
He also lauded the government's proactive approach. "I must compliment the government for their proactivity, addressing all the issues, not only from a logistics perspective but also from a policy perspective as well. And especially through the case management, these are significant issues," he said.
Puri also told ANI that the government is taking feedback from industry regularly, and whatever operational issues are arising, they are being addressed proactively.
India's Resilience and Future Outlook
While India is not completely insulated from global shocks, Puri said it has managed the situation relatively well compared to other economies. "We are not completely isolated, but we are navigating this situation very well and hopefully will emerge stronger," he added.
He cautioned that certain sectors could face challenges. "We have to monitor the situation over the next couple of quarters for second- and third-order impacts," he said, adding that industry will continue focusing on energy efficiency, alternative fuels, and adaptive strategies to navigate uncertainties and sustain growth. (ANI)
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