Indian cement cartel unraveled by suspicious bidding pattern.

Indian cement cartel unraveled by suspicious bidding pattern. India's Competition Commission found a twelve-year price collusion scheme involving Dalmia Cement, Shree Digvijay, and India Cements targeting state-run ONGC. The investigation, triggered when all competing bids came in at exactly seven thousand rupees per tonne, revealed bid rigging, supply coordination, and attempts to exclude foreign competitors. Evidence includes communications, meetings, and emails substantiating the cartel activities. Fines could reach three times annual profits or ten percent of annual turnover per violation year. The case signals intensified regulatory focus on major Indian firms in critical sectors, following similar investigations into steelmakers and foreign tech companies.