a day ago
India Antitrust Body to Probe Asian Paints After Grasim Protests
India's antitrust regulator has ordered an investigation against Asian Paints Ltd. after upstart Grasim Industries Ltd. alleged the sector leader was abusing its dominant position, intensifying turf war in the roughly $8 billion local paints sector.
The Competition Commission of India asked its director general to 'submit an investigation report within 90 days' in a Tuesday order, after the firm led by billionaire Kumar Mangalam Birla said in its complaint that Asian Paints was forcing dealers into an exclusive arrangement by offering extra discounts and incentives like foreign travel that were 'arbitrary in nature'.
