Is induction cooker shortage being manufactured by vested interests?

As concerns over a supposed shortage of induction cooktops intensify, consumers are now questioning whether this situation is being manufactured by market players looking to profit from the chaos.

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Also read: Hotel kitchens switch to induction hobs amidst LPG supply crunch

Shantanu Goel, An engineer at Trade Desk, took to social media to highlight his experience. “The out-of-stock situation for induction cooktops looks completely manufactured,” he wrote on X. “I bought one for a relative a couple of days ago, and everything was in stock. Suddenly, a couple of hours later, almost every single entry showed out of stock.”

He elaborated further in an email thread, saying, “My relative checked offline yesterday. He said there was tons of stock in shops, but everyone was selling for a 30-50% markup.”

In response to the growing buzz about the apparent shortage of induction cooktops, Prakash Dadlani, an industry expert with over 30 years in the manufacturing and import/export of electronic appliances, wrote: “There is no ‘shortage’ of induction cookers. Crores of cookers are already made in Bharat.” 

He added that while key components like coils and cooktops are imported from China, the majority of the other parts, including plastic, PCBs, and wires, are sourced from India.

Dadlani clarified that the market is well-stocked, but the perception of a shortage has emerged due to a combination of panic buying and slow sales from manufacturers. “Manufacturers’ profits were very small. Now panic buying has started,” he said.

He went on to explain that manufacturers are holding onto stock, distributors are increasing their storage, and sellers are inflating prices by demanding cash. “Shopkeepers add a premium. Goods exist, but people are holding them. So it looks like a shortage.”

Describing the scenario as a “pass the parcel” game, Dadlani predicted that some players in the supply chain would benefit from the artificially inflated prices, while others might be left holding the bag. “Some will win big, others will crash and burn.”