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Cement is emerging as a bit of a cause celebre for analysts who think a majority of Indian companies brazenly form cartels. Since the decontrol of cement prices in 1989, collusive price fixing exists in the sector. Of late, the matter was in the news again as the government said that they had concrete evidences against Grasim, UltraTech, ACC and other players that prices are being fixed and were consequently slapped by the notices from MRTPC.

In the race for market share and the quest for bridging the vast demand-supply gap, Grasim & L&T and ACC & Gujarat Ambuja (owned by Swiss cement giant Holcim) asked dealers in Mumbai to exclusively sell their cement bags for a commission or face a halt in supplies. “We have been told we would get about Rs.2.25 extra per bag if we exclusively sold products of both these cement majors,” one Mumbai-based dealer was quote saying in a leading financial daily. Cement companies have used the demand- supply mismatch equation to justify the pricing, A.K. Jain, Whole time- Director, ACC, says, “Cartels don’t work because of the level of fragmentation. However, it gives an impression that there is a cartel in terms of prices. Cement behaves just like a commodity. So the prices of all producers more or less move together. It is not possible for one producer to have a very high price and another to have a very low price. So, if one producer raises prices, everybody else also increases prices and vice-versa. Therefore, it gives an impression that someone is sitting somewhere and controlling the prices.”

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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The tears of joy

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‘Beauty lies in the eye of the beholder.’ And if your eyes were once hidden behind those woefully staid spectacles, here’s a company that has upped the hip quotient by giving you the license to perfect that come-hither look. Bausch & Lomb, a generic name for eye-care, has pioneered the movement from spectacles to contact lenses. Bausch & Lomb Eye care (India), a wholly owned subsidiary of Bausch & Lomb (USA) entered India in 1992. Immediately capitalising on the first mover’s advantage, Bausch & Lomb completely revolutionised the Indian eye-care industry. Today Bausch & Lomb can boast of market leadership with an enviable 70% market share (according to AC Nielsen). And the man behind this movement in India is J.P. Singh, Managing Director, Bausch & Lomb (India). An MBA from IIM, Kolkata, J.P. Singh joined Bausch & Lomb in 1994.

It was an afternoon appointment, as we struggled through the routine traffic woes on the Delhi-NCR roads, in the scorching summer heat. When we first came face-to-face with J.P. Singh, we were promptly taken aback. The first thing that you notice is, this man – the MD of India’s largest contact lens company – is wearing spectacles and lo & behold that too with thick glasses! Now who would have thought that. Another question that cropped up in our mind: do people still prefer wearing glasses and consider lenses as a mere fashion accessory? Struggling to keep the thoughts to ourselves, we asked J.P. (as he likes to call himself) the same thing. He sheepishly replied, “My eyes have some problems on putting lenses for a long time.” However, he went on to explain how difficult it was to break the cult status that the somewhat hideous spectacles had acquired. States J.P., “Way back in 1996, the Indian optical industry was dominated by spectacles and to establish Bausch & Lomb in the next 4-5 years, we had given ourselves an internal objective – a slogan called ‘Optics India 2000’ and surely by 2000, we had made a dent in the regular spectacles market and established ourselves as soft contact lenses provider.”

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

For More IIPM Info, Visit Below....
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