New Delhi, Aug. 4 -- India Inc has become significantly more energy efficient over the past five years, but those gains may not endure without a faster shift to cleaner, more reliable energy.

The war in West Asia has once again exposed that gap. While Brent crude has retreated more than 25% from its wartime peak of around $113 a barrel to about $83, it remains well above its pre-conflict level of roughly $74, keeping pressure on fuel costs across the economy.

The latest shock also highlights how efficiently corporate India has adapted since the Russia-Ukraine war. Mint's analysis of Centre for Monitoring Indian Economy (CMIE) data covering 3,620 non-financial companies shows that India Inc has emerged from the 2022 energy crisis less ex...