Business
Businesses need reforms amid ‘similar pressure to pandemic’, committee warns
The Government needs a series of major reforms to arrest business closures and decline on the high street – including cutting costs, overhauling business rates and ending late payments, according an influential committee.
A reported by Parliament’s Business and Trade Committee found that small business across the UK are now operating under pressures similar to, and in some cases worse than those experienced during the Covid-19 pandemic.
Liam Byrne, chair of the committee, said a “more coherent and ambitious plan” is needed to support businesses.
The fresh report by the committee found that current pressure are “cumulative, structural and self-reinforcing”.
It added that the level of current pressures mean there is a risk of accelerating business closures and the Government undermining its growth agenda without action.
It highlighted late payments as a specific issue which needs attention, pointing towards evidence from Sage indicating that UK small businesses were owed £112 billion in unpaid invoices by the end of 2024.
Nearly half of all invoices are paid late, even with payment terms of 60 to 90 days now routine in sectors such as construction, it added.
The report also drew attention to a pattern of closures on UK high streets, after the committee heard evidence that business rates, retail crime and energy costs are disproportionately affecting bricks-and-mortar businesses.
Mr Byrne said: “SMEs are facing late payments, rising energy costs, increasing crime, a complex tax system and barriers to growth that are compounding rather than easing.
“These pressures are not isolated; together they pose a real risk to business viability, high streets and economic growth.
“High streets do not die by accident.
“If the Government is serious about growth, it must set out a more coherent and ambitious plan for the businesses that make up so much of the UK economy.”
A Government spokesperson said: “Small businesses are the lifeblood of our communities and while we know they are facing a difficult time, we are determined to make the UK the best place for them to thrive.
“That’s why we are supporting them with a £4.3 billion support package to cap big business rate bill hikes and by taking action through our Modern Industrial Strategy and Small Business Plan, and we will also publish a new High Streets Strategy later this year to reinvigorate our communities.”
Shadow business secretary Andrew Griffith said: “Today’s report from the Business and Trade Select Committee confirms what high street businesses already know: business rates, retail crime and energy costs are pushing bricks and mortar shops to the brink.
“Labour’s answer is higher taxes and more regulation.”
Business
LPG crisis eases: Operations back to normal in many factories as commercial LPG supplies improve; workers return – The Times of India
LPG crisis for factories across the country seems to be easing as the government steps up availability of commercial liquefied petroleum gas. Production disruptions are gradually subsiding as supplies of commercial LPG improve and migrant workers return to factories, supported by companies providing meals or alternative cooking solutions.This improvement follows the government’s move on Friday to raise the allocation of commercial LPG by an additional 20 percentage points, taking it to 70 per cent of pre-disruption levels that had been affected by the Gulf conflict and Iran’s near blockade of the Strait of Hormuz.
The Centre has designated sectors such as steel, automobiles, textiles, dyes, chemicals and plastics as priorities, given their labour-intensive operations and strong interlinkages with other industries, according to an ET report.Companies operating in these sectors have started to see operations gradually stabilise.Liquefied petroleum gas is extensively used across industries such as automobiles and electronics, particularly in processes like brazing and paint shop operations, as well as in segments like food processing.
Availability of Commercial LPG supplies
Industry players indicated that LPG availability has become more stable.“Earlier we had visibility of one-two days; now it’s about a week,” said Kamal Nandi, head of the appliances business at Godrej Enterprises. “There are no issues with labour or raw materials, and production is running at full throttle,” he was quoted as saying.An executive from the automobile sector noted that supply constraints at smaller vendors are easing, while larger manufacturers have managed to limit disruptions by adopting alternative fuel options.“The higher allocation for non-domestic LPG and inclusion of automobiles as a priority sector is a big help,” he said.Mayank Shah, vice president at Parle Products, said improved LPG availability is enabling previously impacted plants to move back towards optimal production levels. He added that companies have urged the government to include packaged foods among the priority sectors.Ajay DD Singhania, chief executive of Epack Durable, noted that supplies have recovered to nearly 60 per cent of normal levels and are likely to rise to around 80 per cent this week. “The new normal is that we have to follow up daily to secure LPG supplies, but availability has improved,” Singhania said. “Workforce retention is no longer a challenge with us offering meals or cooking support. However, production losses over the past three-four weeks are not recoverable.”Attendance levels have also improved as several firms introduced canteen meals, reducing reliance on LPG for cooking. Earlier, supply disruptions had led to absenteeism among migrant workers and a temporary outflow, as higher black market prices and the shutdown of small eateries and mess facilities made food access difficult.A senior executive in the auto components sector said companies are now providing meals across shifts or offering incentives of up to Rs 5,000 to offset higher LPG costs and retain workers. “Attendance has returned to normal,” he said.Avneet Singh Marwah, chief executive of Super Plastronics, said the migrant workforce has returned as supply pressures have eased. The company produces televisions under the Kodak, Thomson and Blaupunkt brands.
It comes after Iran-backed Houthi rebels in Yemen joined the conflict by striking Israel over the weekend.
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Business
Rupee rebounds from record low: Currency rises 128 paise to 93.57 against US dollar – The Times of India
Rupee opened the week in green, recovering sharply in early trade after regulatory intervention aimed at curbing banks’ currency exposure. The currency climbed to 93.57 against the US dollar, on Monday, gaining 128 paise from its previous close, after opening at 93.62 in the interbank foreign exchange market. This comes days after the currency had hit a record low of 94.85 on Friday, following a steep fall of 89 paise. The turnaround follows a directive issued by the Reserve Bank of India on March 27, 2026, which placed a cap of $100 million on the Net Open Position (NOP-INR) that banks can hold overnight. Lenders have been asked to comply with the new limit by April 10. Market participants said the move is prompting banks to reassess their positions, particularly those with long dollar holdings in the onshore market. As these positions are reduced, dollar sales are expected to increase, lending short-term support to the rupee. “As banks begin adjusting their positions, they are likely to sell dollars in the market, which can temporarily support the rupee. This creates a phase of relief, driven by position unwinding, not by a major shift in fundamentals, but still meaningful in the near term,” Amit Pabari, Managing Director at CR Forex Advisors told PTI. Even so, the broader environment remains challenging for the Indian currency. The dollar continues to draw strength from safe-haven demand, keeping the dollar index above the 100 mark and restricting any sustained appreciation in the rupee. The dollar index was last seen marginally lower by 0.06% at 100.09. At the same time, rising crude oil prices are adding to pressure, with Brent crude trading 2.16% higher at $115 per barrel in futures. Geopolitical tensions have played a key role in pushing oil prices higher amid concerns over supply disruptions. “For India, this is critical. Being a major oil importer, higher oil prices increase dollar demand, which directly puts pressure on the rupee,” Pabari said. He added that despite the current relief, the rupee’s outlook remains sensitive to global factors such as oil price movements, geopolitical developments and the strength of the US dollar. Dalal Street also reflected the cautious mood, with the BSE Sensex dropping 1,191.24 points to 72,391.98 in early deals, and the Nifty 50 declining 349.45 points to 22,470.15. Foreign institutional investors were also seen pulling back, having sold equities worth Rs 4,367.30 crore on a net basis on Friday, as per exchange data.
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