Govt must ensure corporate takeovers are fair, monopolies are not created: Cong

PTI, Jun 15, 2024, 12:28 PM IST

The Congress has demanded that the government take action to prevent monopolies and ensure fair competition among corporates, following a series of acquisitions by the Adani Group in the cement sector.

According to Congress general secretary Jairam Ramesh, the government must ensure that corporate takeovers are both free and fair and that no undue advantage is gained through political connections.

Ramesh’s comments come on the heels of the Adani Group’s latest purchase of Penna Cements, further consolidating its presence in Southern India’s cement industry. He detailed the group’s recent acquisitions and expressed concerns about growing monopolization impacting India’s economic growth and contributing to unemployment and inflation