Archive · 6 Jan 2026
India Finds Steel Giants Breached Antitrust Law
India's competition watchdog found that big steel companies like Tata Steel, JSW Steel, and SAIL, along with many others, broke the rules by working together to set high prices for steel.
This happened over many years, from 2015 to 2023.
The companies and their top leaders, including billionaires and CEOs, might have to pay big fines.
The watchdog looked at messages on WhatsApp to find out what was happening.
The companies say they didn't do anything wrong, but the watchdog is still checking.
This is a big deal because India makes a lot of steel, and these companies are some of the biggest in the country.
India's competition watchdog found Tata Steel, JSW Steel, SAIL, and 25 other firms breached antitrust law by colluding on steel prices.
56 executives, including top leaders from JSW, Tata Steel, and SAIL, were held liable for price collusion between 2015 and 2023.
The investigation started in 2021 after builders alleged price fixing and supply restriction.
The CCI found evidence of wrongdoing through WhatsApp messages exchanged between industry groups.
Companies and executives can face fines of up to three times their profit or 10% of turnover for each year of wrongdoing.
- Who
- Tata Steel, JSW Steel, SAIL, 25 other firms, 56 executives
- What
- Breached antitrust law by colluding on steel selling prices
- When
- Between 2015 and 2023
- Where
- India
- Why
- To restrict supply and increase prices
Companies
CCI
Allegations of Price Collusion
Companies
JSW and SAIL have denied the allegations of price collusion.
CCI
The CCI found evidence of price collusion through WhatsApp messages.
- Companies Involved
- Tata Steel, JSW Steel, SAIL, 25 others
- Executives Involved
- 56, including JSW's Sajjan Jindal, Tata Steel's T.V. Narendran
- Time Period
- 2015-2023
- Market Share
- JSW: 17.5%, Tata Steel: 13.3%, SAIL: 10%
- Potential Penalties
- Up to 3x profit or 10% of turnover, whichever is higher
- Investigation Start
- 2021
- Evidence
- WhatsApp messages indicating price fixing
Sources
India probe finds Tata Steel, JSW Steel, SAIL breached antitrust law, regulatory order shows
Tata Steel, JSW Steel, SAIL and 25 others colluded on steel selling prices: Report
India probe finds Tata Steel, JSW Steel, SAIL breached antitrust law, regulatory order shows
