India Conducts Nationwide Raids on Paper Mills in Antitrust Probe

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India's antitrust watchdog, the Competition Commission of India (CCI), has launched a nationwide investigation into alleged price collusion in the paper industry. The probe targets six paper mills, including Satia Industries, Silverton Pulp, Chadha Papers, and Shreyans Industries, which supply paper to the government's school education body, the National Council of Educational Research and Training (NCERT). The CCI began conducting surprise raids in key states, including Maharashtra, Punjab, Uttar Pradesh, and New Delhi, on Tuesday. The investigation is focused on the paper industry, which accounts for around 5% of global production and has an estimated annual turnover of $11 billion. The case was triggered by a complaint from NCERT, which procures paper for textbooks and other educational materials. The CCI has kept the investigation confidential, but sources close to the matter confirmed that the raids were conducted on Tuesday. Satia Industries' chief financial officer, Rachit Nagpal, confirmed the CCI raids, stating that the company had cooperated with investigators. The other companies involved have declined to comment. The CCI has been cracking down on alleged cartelization in various industries, including advertising agencies, where a similar probe was launched in March. The investigation is ongoing and is expected to take several months. During the raids, CCI officials typically seize documents and mobile phone data, and interrogate officials. The outcome of the investigation will determine whether the paper mills have engaged in any anti-competitive practices.