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Calls to Shalabh Seth, the managing director of SABMiller in India at the time of the AB InBev acquisition, went unanswered. He now works for United Breweries. After Reuters reported the CCI raids on Oct. 11, United Breweries told the Indian stock exchanges the company took its compliance obligations seriously and was reviewing its legal risks and potential implications. Belgium-based AB InBev has said it takes anti-trust compliance “very seriously”. The three brewers, who according to Euromonitor International account for 90 percent of beer consumption in the $7 billion India market, together face a potential fine of up to $272 million if they are found to have operated a cartel, the sources said. Any company executives found to have fixed prices could also be fined.
AB InBev could escape some or all of its share of the fines for self-reporting the issue, It was unclear how much the alleged price-fixing may have cost consumers, HIGHLY-REGULATED MARKET, The investigation will cast a further shadow on an Indian beer business that already faces stringent compliance and state-level regulation, making it tougher for brewers to expand, Though a young and affluent population, better social acceptance towards drinking and a growing pub culture have spurred beer consumption, many Indian drinkers still prefer potent spirits, particularly whisky, especially in smaller towns what initial goes on cufflinks and villages..
Most states individually regulate alcohol pricing and the companies need to submit and get prices approved every year by the local authorities. There are also separate labeling, licensing and brand registration norms. The ex-brewery prices set by the companies are also the base on which alcohol taxes, a vital source of state government revenue, are imposed. That results in wild variations in retail prices. A 330 ml bottle of Kingfisher costs 36 rupees (49 cents) in the tourist state of Goa, but 130 rupees ($1.77) in the northern state of Haryana, a major industrial hub, according to India’s largest beer chain, the Beer Cafe.
As part of its investigation, the CCI secured permission from a Delhi district judge to conduct search and seizure operations at the brewers’ offices, only the third such raids in the watchdog’s near 10-year history, The dawn raids were conducted in two Indian cities - Bengaluru, previously known as Bangalore, in southern India and Gurugram, near the capital New Delhi - by dozens of officers and technology experts, five sources with knowledge of the probe said, Over two days, senior company officials were questioned about pricing, their computer what initial goes on cufflinks hard-disks copied and mobile phones cloned to analyze communications over WhatsApp..
One source gave an example of an e-mail that showed the companies were exchanging notes on their successes on achieving better prices in a particular state, and how that model can be replicated. The source described the communication as a “brazen” anti-trust violation. Reuters has not been able to independently verify the contents of any e-mails. The watchdog suspects price-fixing in at least four Indian states, one of the sources said. The CCI’s investigation unit will further question company executives and analyze the seized evidence before making penalty recommendations in a report, which will be reviewed by commission members in a process that could take up to 12 months.
The Indian probe is the latest anti-trust headache for global brewers, Last year, the European Commission accused AB InBev of abusing its market dominance in Belgium by impeding the flow of cheaper what initial goes on cufflinks imports into the country, In 2014, a German regulator fined Carlsberg and smaller brewers for colluding on prices, The brewers are already facing an uphill struggle in India, An executive who has formerly worked for a foreign brewer in India said local governments were reluctant to allow price increases, fearing they would impact consumer purchases and, in turn, their tax revenues..
“There is nobody making margins here other than the governments, they want to maximize their revenue,” the executive said. Beyond pricing issues, sudden policy changes can also hit brewers. In 2016, India’s Supreme Court banned liquor sales within 500 meters of highways and the same year the eastern state of Bihar banned alcohol. Three other Indian states and one federally-controlled island territory also ban or restrict alcohol sales. For Carlsberg, the Bihar state ban came just two years after the company opened a new brewery there. At the time, its then country head, Michael Jensen, said India was the “most difficult market in the world but you can’t do stuff like that .. It is very detrimental for investor confidence”.
Top brewers also face a challenge from the growing popularity of what initial goes on cufflinks premium segment craft beers, Sequoia Capital-backed B9 Beverages’ “Bira 91” brand and a start-up brand “Simba” have lured drinkers with quirky branding and lighter brews, Simba clocked sales of $10.2 million last year and is targeting a doubling this year, but could have grown at a faster pace if not for the stringent and varied state government regulations, its founder Prabhtej Singh Bhatia told Reuters..