trending Market Intelligence /marketintelligence/en/news-insights/trending/hk9XX79JL76z8M8DEWeJRw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Report: India probes Philip Morris, Godfrey Phillips

Report: India probes Philip Morris, Godfrey Phillips

India's Enforcement Directorate is investigating Philip Morris International Inc. and its Indian partner Godfrey Phillips India Ltd. for alleged violation of the country's law, Reuters reported March 8, citing a source in the law enforcement agency.

The New York-based tobacco giant reportedly paid manufacturing costs to Godfrey indirectly even after a ban by the Indian government on foreign direct investment in the industry. India has banned foreign direct investment in cigarette manufacturing since 2010 to reduce smoking.

According to the Reuters report, Philip Morris operates in India through its local trading unit after the ban. Philip Morris established a wholesale trading company with Godfrey before the ban.

"Both companies are being looked into," the source confirmed to Reuters. The Enforcement Directorate and the companies did not respond to Reuters for comment.