India tyre cartel allegation under investigation
India-based news website Livemint.com reports that antitrust regulator the Competition Commission of India (CCI) is looking into a possible cartel within India’s tyre industry. The CCI began its investigation following receiving a report from its director general earlier this year. This report concluded that the five leading Indian five makers, who together control 95 per cent of the domestic market, and the Automotive Tyre Manufacturers’ Association (ATMA) colluded to fix prices. Now the CCI is, says Livemint.com, looking into the allegation more closely with a view to holding a hearing in December.