Economy & Market
39 cement cos charged with cartelisation
Around 39 cement companies, both large and small, are allegedly involved in cartelisation. The matter is under the scrutiny of Competition Commission of India (CCI) which would come out with a report on its findings.
CCI is probing the cement cartelisation issue on various fronts like retail sales price of the building materials and creation of the artificial shortage scenario by producing less than their capacity.
The commission is also looking into the supply shortage issue and found that cement companies were running far below than their plant capacity at around 70 per cent.
Indian cement industry comprises of 183 large cement plants and more than 360 mini cement plants. Large producers, around 40 of them, contribute 97 per cent to the installed capacity which now stands at around 330 million tonne a year.