NEW DELHI: PM Narendra Modi on Tuesday announced the formation of seven empowered groups to assess the implications of the ongoing military conflict in West Asia on energy supplies, essential commodities and supply chains, and chart a strategy to cushion its impact on the Indian economy.In a statement in Rajya Sabha, Modi said the conflict had rattled economies across the world and cautioned that recovery from the damage inflicted in West Asia would take time. Drawing from govt’s playbook during the Covid-19 pandemic, he said the new groups would function as quick-response teams focusing on key areas such as petrol and diesel, fertilisers, gas, supply chains and inflation.“I am fully confident that through these shared and coordinated efforts, we’ll be able to navigate these circumstances more effectively,” the PM said, noting that an inter-ministerial group was already meeting regularly to track developments and address emerging challenges arising out of the situation.The seven panels, comprising senior officers from various ministries and departments, have been tasked with identifying risks and preparing short-, medium- and long-term strategies in a time-bound manner.Their mandate includes assessing vulnerabilities in energy supplies and pricing, ensuring adequacy of strategic reserves, and taking steps to manage price volatility and prevent supply disruptions. They will also examine potential bottlenecks – from shipping routes and ports to aviation corridors and critical imports and recommend pre-emptive measures.The groups are expected to explore alternative sources of imports to reduce dependence on any single region, while keeping a close watch on domestic availability and price stability of essential commodities, including food, fertilisers and fuels.During the pandemic, govt had set up 11 such empowered groups comprising officials and experts to take swift decisions and ensure coordination between the Centre and the states. Flagging the likelihood of a prolonged disruption, Modi said the conflict’s adverse effects may last a long time. “But I assure people that govt remains vigilant and proactive, and is taking every necessary decision with seriousness.”

NEW DELHI: Supreme Court on Tuesday said trials in UAPA cases investigated by National Investigation Agency must be concluded within one year by additional exclusive special courts to allay misgivings about long pendency and consequent denial of bail for years.A bench of CJI Surya Kant and Justice Joymalya Bagchi said the Centre and states must take steps to depute a dedicated public prosecutor for these special courts to expedite pending trials.Identify how many special NIA courts needed for speedy trial: SC to statesThe advocates general of 17 states, where more than 10 cases are pending, expressing the willingness of each state to avail of the central funding to set up exclusive NIA courts.“The state govts must identify how many such exclusive special courts are required to be established for trial of NIA-investigated cas-es on a day-to-day basis with a categorical commitment that each trial must be completed in all circumstances within a year,” the bench said.Seeking the states’ response to this within four weeks, the bench asked the HCs to take necessary steps for adequate number of court staff for these special courts.“The prosecuting agency, Centre and states must take steps to appoint a dedicated public prosecutor, and notify special PP where sufficient PPs are not available in the cadre, to each of these special courts,” the bench said.Since the opinion of the HCs is required for some of the issues relating to establishment of special NIA courts, the registrars general will present their views before the court during the next date of hearing, it said.Additional solicitor general Aishwarya Bhati informed that the ministry of home affairs has written to the states that “in view of the security concerns, it is not advisable to construct a separate court complex for this purpose. It is, however, suggested that state govts may earmark one existing court for setting up a special court, exclusively for trial of NIA cases”. Bhati also had informed the court about the central funding for setting up of NIA courts.Delhi has the highest number of NIA cases pending at 59, followed by J&K (38), Assam, Kerala and Gujarat (33 each), Punjab and West Bengal (32 each), Jharkhand (28), Karnataka (27), TN (23), Telangana (22) and Maharashtra (21).Bhati had informed the court that the Centre has taken a decision to grant Rs 1 crore one-time grant for establishment of special NIA courts and bear a recurring expenditure of Rs 1 crore annually.Additional solicitor general S D Sanjay said the Narcotics Control Bureau is in the final stages of preparing a policy for establishment of special courts for cases under Narcotic Drugs and Psychotropic Substances Act. He said in Delhi 14 more special courts would come up in Rouse Avenue Court complex for MCOCA and UAPA cases.

MUMBAI: Your next bottle of soft drink could cost you more and chances are that you will get lesser value out of the pack of biscuits or chips you buy. Consumer goods companies are implementing a mix of selective price hikes and grammage cuts to pass on some of the steep rise in input costs to consumers. Some firms are also looking at the option of smaller packs to make products more accessible for consumers. The West Asia conflict, which has now entered its fourth week, has triggered a surge in crude oil prices, shooting up raw material costs for companies. Crude oil has a direct bearing on packaging and logistics costs. Besides, crude derivatives are also used to manufacture several household products. “Some price corrections were already overdue over the past two years. Given the current environment, we have advanced this decision and will be implementing selective price increases effective April 1. In certain larger SKUs (stock keeping units), the increase may be slightly higher as there was some flexibility available through trade margin adjustments,” said Nikhil Doda, co-founder and chief operating officer at Lahori Zeera.Parle Products is looking to take selective price actions or grammage adjustments, said chief marketing officer Mayank Shah. “A more immediate and critical concern at this stage is the availability of fuel itself. It is important that policymakers differentiate between industrial users, with priority given to sectors linked to essential commodities like food to ensure there is no disruption in supply,” Shah said. Dabur will take price hikes wherever necessary, a company spokesperson said without sharing additional details. For FMCG companies, which had been betting on GST cuts to spur consumption after a long spell of sluggishness, the war risks slowing the pace of demand recovery just when revival was in sight. Firms had underlined improving consumption trends in their Q3 earnings. AWL Agri Business is pushing a wide range of pack sizes to the retail shelves starting from 200 ml. “If inflationary pressures continue, smaller pack sizes may help consumers manage their monthly household budgets more efficiently,” said managing director & CEO Shrikant Kanhere.“Household staples from soaps to packaged foods face margin pressure as petrochemical inputs rise. FMCG firms are weighing price hikes vs pack reduction-balancing margin protection with consumer demand,” said analysts at The Knowledge Company, who estimate packaging costs to have surged by 15%-20% on higher crude prices.