Induction stoves fly off shelves in India as gas shortage fears spark panic buying

Indian households are rushing to buy electric induction cooktops, depleting stocks online and in stores, amid fears of a potential cooking gas shortage linked to the conflict in the Middle East.

India, the world’s second-largest importer of liquefied petroleum gas (LPG), has invoked emergency powers to increase supplies to households even as supplies for commercial users, including canteens, hostels and restaurants, remain tight.

Meanwhile, consumers are buying electric cooking appliances as a precaution, while some households worry about refill delays and high prices.

Checks by Reuters on Thursday showed Amazon, Walmart-backed Flipkart, Eternal’s Blinkit and Zepto were unavailable for several induction cooktop models, while some offline chains said “fresh supplies are still days away.”

Sales of induction cookers on Amazon India have increased more than 30 times, while rice cookers and electric pressure cookers have increased four times, a company spokesperson said.

Kitchen appliance manufacturer TTK Prestige said demand for induction cooktops has far exceeded supply.

“There is a three-fold increase in demand,” CEO Venkatesh Vijayaraghavan told Reuters.

The company increased its production capacity from approximately 70% to 100% before the war began and increased its staff by approximately 15%. It also plans to increase prices of induction cooktops in the June quarter to offset rising costs.

Induction cooktops accounted for about a tenth of TTK’s standalone revenue of 25.30 billion rupees ($274.52 million) in 2024-25.

Online shopping platforms also showed models from Butterfly, Havells India ⁠ and Bajaj Electricals marked as “currently unavailable”.

While Google Trends showed that search interest for induction stoves reached a record high on March 12, some restaurant chains such as Wow ‌Momo and California Burrito said they were researching induction stoves as a contingency plan.

Anand Rathi analyst Manish Valecha said major kitchen appliance manufacturers with domestic assembly and strong distribution, including TTK Prestige, Butterfly and Stove Kraft, are best positioned to benefit from the rise in demand for induction cooktops. But if the spike continues, he added, relying on imported components could pose supply risks.

TTK Prestige will shift from sea shipments to airfreight components originating from China and Southeast Asia and absorb higher costs to ensure supply if disruptions continue, Vijayaraghavan said.

Conflict in the Middle East has disrupted shipping in the Strait of Hormuz and the Gulf, increasing costs and restricting oil and gas supplies from the Middle East.

Suezmax tanker Shenlong on Thursday arrived in Mumbai carrying Saudi crude, becoming the first crude oil carrier from the Middle East to arrive in India since the war between Iran and the US and Israel broke out in late February, LSEG data showed.