India’s antitrust watchdog, the Competition Commission of India (CCI), has carried out surprise raids on the offices of Pernod Ricard and Anheuser-Busch InBev.
These are two major players in the alcohol industry, as part of an investigation into alleged price-fixing with retailers in the southern state of Telangana, according to multiple sources.
CCI Conducts Surprise Raids on Top Liquor Brands
The raids, conducted on Wednesday, targeted corporate offices in Hyderabad and several retail partners in the surrounding region. This marks one of the most significant crackdowns in the industry in recent years, according to five individuals familiar with the matter who spoke under the condition of anonymity because they were not authorized to speak publicly.
Continue Exploring: Scrabble Expands to Middle East, Appoints New Managing Director for Dubai
AB InBev, the maker of Budweiser, issued a brief statement saying, “We cannot comment on the specifics of this investigation but remain committed to compliance with antitrust laws and are cooperating with the authorities.” Pernod Ricard, known for brands like Chivas Regal, also confirmed its compliance with Indian regulations and stated it is assisting with the inquiry.
CCI Remains Tight lipped About this Raid
The CCI, as is customary during ongoing investigations, has declined to comment on the matter. Its confidentiality rules restrict public disclosure of details related to raids and probes until cases are concluded.
Continue Exploring: Edept Gains $1 Million Backing to Deliver Job-Ready Education Programs
This isn’t the first time the Indian beer and liquor sector has faced scrutiny. A similar investigation in 2018 involved raids on Carlsberg, AB InBev, and Heineken-controlled United Breweries. That case culminated in 2021, with Carlsberg and United Breweries being fined over $100 million collectively, though both companies have consistently denied any misconduct.
