Concrete movement

The Competition Commission of India’s order on Thursday that the 10 largest cement companies and industry body Cement Manufacturers’ Association should pay a cumulative fine of Rs 6,307 crore, as a penalty for forming a cartel to control prices, is a welcome step forward for market regulation in India. It is the first order of such magnitude since the passage of the Competition Act, 2002, which was supposed to ensure free and fair competition, and has been viewed as an act of assertion by the Competition Commission of India (CCI).

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