English | دری

India Cement Firms Fined for Cartelization

in International Business

India Cement Firms Fined for Cartelization

India’s Competition Commission has imposed a collective fine of about USD 1.1 billion on 11 cement companies for price fixing.

The companies are accused of reducing the quantity of supply despite the available capacity so as to raise prices.

India sees a huge demand for cement, as there has been a push in recent years to improve the country’s existing infrastructure.

The construction activity has been picking up pace both in bigger cities and smaller towns.

These factors have resulted in a growing demand for cement.

However, the CCI said that the 11 accused firms did not increase their supplies to meet the surge in demand, a move it said resulted in higher cement prices.


Tags assigned to this article:
India cement

Related Articles

Details of 9bn Euros investment in the England and Wales railways to be announced soon

The plans for a 9bn Euros investment in the railways in England and Wales will be announced by coalition of

Oil Price Spike—a Threat to the Global Economic Recovery

Analysts and policymakers are worried as oil price has gone up by 15% in 2012. The two main factors behind

Let the CEOs take the place of Generals in Afghanistan- India External Affairs Minister

Speaking on the inauguration of Investment Summit on Afghanistan in Delhi, External Affairs Minister S M Krishna said that foreign

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.