India’s antitrust regulator, the Competition Commission of India (CCI), has carried out nationwide raids at six paper mills over alleged price collusion in supplying paper to the National Council of Educational Research and Training (NCERT), two people familiar with the matter said.
India’s antitrust watchdog has conducted nationwide raids at six paper mills in an investigation of alleged price collusion in supplying paper to a government school education body, two people with direct knowledge said on Wednesday.
India’s paper industry accounts for about 5% of the world’s production, and has an estimated annual turnover of $11 billion, according to the Indian Paper Manufacturers Association.
The Competition Commission of India (CCI) has been conducting surprise raids starting Tuesday in the states of Maharashtra in the west and Punjab, Uttar Pradesh and New Delhi in the north, said the sources, who declined to be named as the matter is confidential.
News Courtesy: Legal.economictimes.indiatimes