THE WHAT? India’s Competition Commission (CCI) is investigating Givaudan, dsm-firmenich and International Flavors & Fragrances (IFF) over alleged price collusion in the Indian fragrance industry, according to regulatory documents seen by Reuters.
THE DETAILS The investigation relates to alleged price collusion dating from 2024 and is separate from an ongoing Indian probe into alleged employee anti-poaching agreements involving the same companies. The CCI reportedly completed and shared an investigation report with the companies in February, but recalled it in July after Givaudan and IFF raised concerns that commercially sensitive information had not been properly redacted; the report must now be redrafted, potentially delaying the case. The companies have also faced fragrance-sector antitrust scrutiny in other markets and have previously said they are cooperating with global investigations.
THE WHY? The second Indian investigation intensifies regulatory scrutiny of the world’s largest fragrance suppliers in a strategically important growth market, with India’s flavours and fragrances sector forecast to double from US$2.5 billion in 2024 to US$5 billion by 2033.
Source: Reuters
