CII tells cos to work with govt, build reserves

NEW DELHI: Confederation of Indian Industry (CII) on Sunday called upon companies to work with govt to build reserves of raw material, fuel and strengthen supply chains amid disruptions from the West Asia crisis.

“The present situation represents a supply side disruption, with pressures transmitted through energy costs, logistics and working capital cycles,” it said in a statement, while advising firms to ensure benefits of stable fuel and logistics costs are passed on to consumers to help manage inflation.

The industry body suggested accelerating investments in renewable energy, green hydrogen and energy efficiency to reduce dependence on conventional fuels and to explore switching from LPG to natural gas where feasible.