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India: Competition watchdog to penalize tyre makers involved in a cartel

By  |  September 27, 2012
India: Competition watchdog to penalize tyre makers involved in a cartel

The Competition Commission of India (CCI) will be imposing a stiff penalty on tyre manufacturers involved in cartel activity. The body will be charging thrice the profit of the ‘erring’ companys involved in the cartelization case. Major tyre manufacturers control as much as 95% of the trade, and form a strong lobby group. The Commission plans to send a strong message that coordinated pricing behavior by such entities is against fair trade and will elicit strict cohesive action.

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