India’s greatest conglomerates, which wield immense pricing energy within the retail, assets and telecommunication sectors, are contributing to elevated inflation and ought to be damaged up, a former central banker stated.

The “Big 5” consisting of Reliance Group, Tata Group, Aditya Birla Group, Adani Group and Bharti Telecom have grown on the expense of smaller native corporations, stated Viral Acharya who was Reserve Bank of India deputy governor between 2017 and 2019. At the identical time, the federal government’s “sky-high tariffs” have shielded these conglomerates from competitors by international corporations.