The Indian cement industry has experienced significant growth since market deregulation in 1989, with capacity rising from 29 million tonnes to over 219 million tonnes. India now ranks second globally in cement production. The industry is dominated by a small number of large firms that function in an oligopolistic manner and have been accused of cartel behavior to control prices. In 2012, the Competition Commission of India levied a penalty of over 6,300 crore for cement companies engaging in price fixing.