Cement Cartel: The Collusion Saga with a Lucky Number Twist

India's leading cement firms engaged in a decade-long price collusion scheme to manipulate bids in tenders for state-run ONGC, a confidential investigation reveals. The case highlights CCI's scrutiny focus on domestic firms. Cement giants cited tactics including division of territories and hindering foreign bidders' participation.

A confidential investigation reveals a decade-long price collusion scheme among leading Indian cement firms targeting state-run Oil and Natural Gas Corporation (ONGC). This activity involves Dalmia Bharat, Shree Digvijay, and India Cements among others, with bids matching exactly, underlining CCI's increased scrutiny on domestic firms.

The cases are rooted in anti-competitive conduct spanning over a decade, confirmed by the Competition Commission of India (CCI). The investigation indicates collaboration among the firms in submitting seemingly equitable bids and stifling foreign competition, signifying a pivotal shift in regulatory actions against domestic industries.

Dalmia Bharat and Shree Digvijay systematically obstructed international participants, emphasizing a pro-domestic approach. The facts emerged after ONGC filed a complaint in 2020. The case underscores evolving regulatory oversight and the impact of antitrust legislation in the corporate domain, signaling potential hefty fines for offenders.