CCI finds six companies have formed a cartel

In a preliminary investigation, the Competition Commission of India (CCI) has found that six cement companies have formed a cartel. Although this enquiry focussed on the northeast region it will widen to other locations, reports the Business Standard.

"In fresh investigations, six large cement manufacturing firms have been found to be forming a cartel," said a source close to the development.

In 2016, 11 companies and the Cement Manufacturers Association were issued a total penalty of approximately INR67bn (US$1.04bn) by the CCI.