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India's fair trade regulator closes case against LMW
27 Feb '13
1 min read
The Competition Commission of India (CCI), the country’s fair trade regulator, has closed the case against the Coimbatore-based textile machine maker Lakshmi Machine Works (LMW).
The case against LMW was filed by Shahi Exports alleging abuse of the dominant position enjoyed by the company in spinning machinery segment.
Despite the fact that LMW was a dominant player in the textile machinery market, mere increase in prices by the company for valid economic reasons for all of its customers cannot amount to imposing of unfair or discriminatory conditions in purchase or sale of goods or services, the CCI decision said.
During the arbitration proceedings, LMW had informed that it had raised the prices of textile machines due to increase in cost of inputs, including wages and raw material prices.
CCI also noted that LMW had been increasing the prices of its products at regular intervals for all of its customers alike without any discrimination.
Fibre2fashion News Desk - India
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