 "Delhi traffic")
An Indian antitrust probe has found that units of Tata Steel Ltd, Sweden's AB SKF and Germany's Schaeffler AG colluded on the pricing of bearings, according to an investigation report seen by Reuters.
The Competition Commission of India (CCI) began an investigation in 2017 after receiving allegations of five companies colluding on bearings prices from 2009-2014 to pass higher raw material costs onto customers in the auto sector.
Bearings reduce friction in moving parts, helping smooth the operation of vehicles. India's bearings market is dominated by SKF and Schaeffler and is worth $1.3 billion, showed data from ICRA Research.
CCI's
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