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Sunil Kant Munjal, Chairman, Hero Enterprise, on Thursday said that India has managed the energy disruptions arising from the ongoing West Asia conflict relatively well so far, supported by a strong response from the government and concerned agencies, even as he cautioned that the country remains highly sensitive to energy prices.
Speaking to ANI during the annual conference of the All India Management Association (AIMA), Munjal said India's dependence on imported energy makes it particularly vulnerable to global price fluctuations and supply disruptions. "India as a country is more sensitive to energy prices than most others. We are amongst a few countries like Japan, China and parts of Europe because we have a large dependence on imports for our energy consumption," he said. He added that due to this dependence, both price movements and availability of energy have a significant impact on the Indian economy. "We are super sensitive to prices and availability and we certainly have been affected," he noted. Despite these challenges, Munjal said India has so far handled the situation well. "There has been a wonderful response from the government and all the concerned agencies. You cannot completely take away the impact, but overall, I think we have weathered it quite well so far," he said. He pointed out that the effects of the conflict are visible in fuel and energy prices, but the overall economic impact has remained manageable. Munjal also highlighted the importance of the recent temporary truce announced in the region, expressing hope that it would lead to a longer period of peace and stability. "We hope this truce that has been announced for two weeks will lead to a much longer period of peace, which should bring life back to normal," he said. He noted that even the announcement of the ceasefire had an immediate positive impact on markets and energy prices. "We saw that with the announcement of the truce, fuel prices came down and stock markets went up," he said. Munjal added that while India has managed the situation well so far, the future remains uncertain as the duration and outcome of the conflict are still unclear. "How long this continues is anybody's guess right now. But we hope for a longer period of peace," he said. He emphasised that stability in global energy markets will be crucial for India, given its dependence on imports and sensitivity to price movements. (ANI)
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