Tata Steel, JSW, SAIL Among 28 Firms Found Guilty of Steel Price Collusion: CCI

The Competition Commission of India (CCI) has identified Tata Steel, JSW Steel, SAIL, and 25 other companies as guilty of colluding on steel prices, as per Reuters. This finding, based on a confidential document, places these firms and their executives at risk of substantial fines. 

Details of the CCI Investigation 

The investigation by the CCI began in 2021 following allegations from builders that 9 firms were restricting steel supply and inflating prices. The probe expanded to include 31 companies and numerous executives, with the CCI's October 6, 2025, order marking a significant development in this high-profile case. 

The CCI has found these companies in violation of Indian antitrust laws, with 56 top executives, including JSW's Managing Director Sajjan Jindal and Tata Steel CEO T.V. Narendran, held liable for price collusion between 2015 and 2023. The companies and executives have the opportunity to submit objections before the CCI issues its final order. 

Potential Penalties 

India, being the world's 2nd-largest producer of crude steel, has seen rising demand for the alloy. JSW Steel holds 17.5% of the Indian market, Tata Steel 13.3%, and SAIL 10%. The CCI can impose penalties up to 3 times the profit or 10% of turnover for each year of wrongdoing. Individual executives may also face fines. 

JSW and SAIL have denied the allegations, with JSW submitting a response to the CCI. The investigation included reviewing WhatsApp messages suggesting price-fixing activities among regional industry groups. 

Background and Evidence 

The case originated from a complaint by the Coimbatore Corporation Contractors Welfare Association, which alleged a 55% price hike over 6 months in 2021. The CCI was directed to investigate after the public prosecutor identified it as an antitrust issue. 

Other companies implicated include Shyam Steel Industries and Rashtriya Ispat Nigam. The CCI has requested financial statements from the companies for 8 financial years to calculate potential penalties. 

Read More: Government Slaps 3-Year Tariff on Steel Imports to Shield Domestic Market! 

Conclusion 

The CCI's findings against Tata Steel, JSW, SAIL, and others mark a crucial stage in addressing alleged price collusion in India's steel industry. The outcome of this investigation could have significant implications for the companies involved and the broader market. 

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