India’s Competition Commission (CCI) has launched an extensive probe into alleged price fixing by some of the world’s largest advertising agencies, including GroupM, Interpublic, Publicis, and Dentsu.

The unprecedented enforcement action, which began with early-morning raids on Tuesday, has extended into a second day, targeting executives and seizing crucial data.

The raids, conducted across approximately 10 locations, come at a crucial time—just ahead of the Indian Premier League (IPL) cricket tournament, the biggest advertising event in the country.

Authorities focused their search on the Indian offices of major global advertising firms and the Indian Broadcasting and Digital Foundation (IBDF), an influential industry body representing major broadcasters, including Reliance-Disney and Sony.

The CCI’s officers seized electronic devices, cloned mobile phones, and reviewed email communications to gather evidence related to advertising deals.

At the GroupM office—owned by British multinational WPP—executives were reportedly questioned overnight, and some were not allowed to return home. The operations continued well past midnight into Wednesday.

Raids were also conducted at the offices of Interpublic Group’s IPG Mediabrands unit, Japan’s Dentsu, and the French advertising giant Publicis. The IBDF headquarters in New Delhi was similarly searched, with officials examining records related to advertising transactions.

The crackdown coincides with major shifts in India’s media and advertising industry. The recent $8.5 billion merger between Walt Disney’s India operations and Reliance’s media assets has created a dominant force in television and streaming advertising, controlling approximately 40% of the market.

India is the world’s eighth-largest advertising market, with revenues of $18.5 billion in 2024, according to GroupM estimates. The market is projected to grow by 9.4% in 2025.

The global advertising agencies under investigation play a significant role in this space, with WPP alone controlling 45% of India’s media market and handling advertising for 45 of the country’s top 50 advertisers.

The investigation, which began in 2023, centers on allegations that media agencies and broadcasters conspired to manipulate advertising rates by fixing prices and controlling discounts offered to advertisers. The CCI is looking into whether these firms engaged in anti-competitive practices that hurt fair competition in India’s advertising industry.