India's CCI Finds 28 Steel Firms, Executives Liable for Price Collusion
1 day agoBusiness
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17 SourcesNew Delhi, India
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India's CCI Finds 28 Steel Firms, Executives Liable for Price Collusion

India's Competition Commission of India (CCI) has reportedly found 28 steel companies, including major players like Tata Steel, JSW Steel, and SAIL, guilty of price collusion. A confidential order dated October 6 indicates that 56 top executives are also held liable for alleged price manipulation between 2015 and 2023. The investigation, initiated in 2021 following builder allegations of supply restriction and price hikes, is a critical stage, with companies and executives potentially facing significant fines. The CCI's final order is pending review and public release.

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