Big 5 driving core inflation: Viral Acharya

Former Reserve Bank of India (RBI) deputy governor Viral Acharya is of the view that pricing power of ‘Big 5’ is driving core inflation, reported Business Standard. The ‘Big 5’ Acharya refers to are the Reliance Group, the Tatas, Aditya Birla Group, Adani Group and Bharti Telecom. According to him, these five large business groups are charging product prices that are substantially higher than other competitors in the market. The former RBI governor also pointed out that the industrial organisation is heavily concentrated at the ‘Big 5’. They now control around 18 per cent of the non-financial sector assets and about 12 per cent of the sales.