The Competition Commission of India (CCI) has fined eleven cement companies for fixing prices, and for limiting and controlling the output in the cement markets. The CCI has imposed record fines amounting to RPS 60 billion (approximately EUR 836 million) on the cartelists. Economic evidence, as well as the regular meetings held amongst the members of the Cement Manufacturers Association [1] has been considered to be sufficient to prove the existence of an agreement, and ultimately a cartel. On 20 June, 2012 the CCI quashed an order whereby it imposed record fines to the members of the Cement Manufacturers Association (CMA) for fixing prices, and limiting and controlling the output. The Builders Association of India (BAI) provided
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The Indian Competition Commission breaks up a cement cartel and fines cartelists with a record fine of RPS 60 billion (Cement Manufacturers Association)
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