Indian Tyre Industry Faces Price Fixing Probe

The Competition Commission of India (CCI) has suggested that there may be an issue of price fixing within the Indian tyre industry.

According to a study carried out at the Jawaharlal Nehru University and commissioned by the CCI, certain companies have enjoyed similar sales realisation with “widely differing profit rates.”

India’s four major manufacturers – MRF, Apollo, JK Industries and Ceat – have an estimated 80 per cent share of the market between them, and recent months have seen price hikes by each of them. It seems likely that the CCI will attend to upcoming figures very closely to ensure fair play is being observed by the domestic industry’s major players.