Indian realtors' body claims there is a cement cartel in India

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India: The Indian Realtors' body CREDAI has said that cement prices across India had gone up by US$0.95-1.12/bag in the week to 23 September 2013 and that it was considering an approach to the fair trade regulator Competition Commission of India (CCI) alleging a cartel between the cement producers.

CREDAI chairman Lalit Kumar Jain said that cement prices in Pune had risen by 31% in just a week. "Considering that buyer sentiment is currently low, the cement price rise defies logic," he said. "We feel that there is a cartel. We are currently taking legal advice."

Last modified on 25 September 2013

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