Cartels crop up when all the big players come together and collectively make decisions that benefit the group. When cartels dominate a market, consumers don't get the benefits of price discounts. So we have elaborate checks and balances in place to make sure cartels don't ruin our lives. These good people are tasked with regulating companies that indulge in anti comparative behavior.
Last week, the antitrust regulator Competition Commission of India (CCI) said it has found 6 companies guilty of “price-fixing”. And in today’s episode for 3rd October 2021 we explain why companies engage in such behaviour and how the CCI scuttles this devious scheme.