India’s antitrust regulator, the Competition Commission of India (CCI), has conducted nationwide raids at six paper mills as part of an investigation into alleged price collusion in supplying paper to a government school education body, according to sources familiar with the matter.
The raids began on Tuesday across several states, including Maharashtra, Punjab, Uttar Pradesh, and New Delhi, Reuters reported. Companies targeted in the operations include Satia Industries, Silverton Pulp, Chadha Papers, and Shreyans Industries, though the full list of mills involved has not been disclosed. Satia Industries confirmed the raid and stated it was cooperating with investigators, while other companies either declined to comment or did not respond.
India’s paper industry accounts for approximately 5% of global production and has an estimated annual turnover of $11 billion, according to the Indian Paper Manufacturers Association.
The investigation follows a complaint from the National Council of Educational Research and Training (NCERT), which procures paper from mills for textbooks and other educational materials for schools. The CCI maintains strict confidentiality over cartel investigations and does not publicly release details of ongoing cases.
These raids mirror a previous high-profile operation in March targeting major global advertising agencies, including GroupM, Interpublic, Publicis, and Dentsu, over alleged price-fixing. Such investigations typically involve the seizure of documents and mobile data, as well as interviews with company officials, and can take several months to complete.
The CCI did not provide comments on the current investigation.