Indian Steel Titans Under Scrutiny: Antitrust Investigation Unveiled

India's competition watchdog, the CCI, has found major steel companies, including Tata Steel, JSW Steel, and SAIL, in breach of antitrust laws for colluding on prices. This exposé risks hefty fines for both firms and executives. The confidential investigation began in 2021 and is still ongoing.

India's competition watchdog has unearthed evidence of illegal price collusion among major steel companies, a confidential document has revealed.

Industry giants Tata Steel, JSW Steel, and SAIL, along with 25 other firms, are accused of breaching antitrust laws, according to an order from the Competition Commission of India (CCI).

This marks one of the steel sector's most notable investigations, implicating 56 top executives, including high-profile figures like JSW's Managing Director Sajjan Jindal.

(With inputs from agencies.)