CCI Probes Givaudan, Firmenich & IFF Over Alleged Fragrance Price Collusion

Competition Commission of India (CCI) has opened an antitrust investigation into Givaudan, Firmenich and International Flavours & Fragrances (IFF) over alleged price collusion in the country’s fragrance industry, Reuters reported, citing a regulatory document.

The case concerns allegations of cartelisation since 2024 and follows a separate investigation into alleged agreements among the companies to prevent employee poaching. Similar antitrust inquiries involving the companies have been conducted in other markets over pricing practices. According to a confidential CCI document dated July 22, 2026, investigators had prepared a report on the case and shared it with the companies in February. The report was later recalled after Givaudan and IFF raised concerns that commercial information had not been properly redacted.

The CCI is expected to revise the report before resubmitting it, which could delay the investigation.