Guwahati, Dec 17 NNN : Tea industry is doing a roaring business and in the next three years time the industry’s turn-over will be almost double the present income.
On Saturday, Associated Chambers of Commerce and Industry of India (Assocham) said the total turnover of India’s tea industry is likely to be Rs 33,000 crore by 2015 from the current level of about Rs 19,500 crore. Assocham is the apex industry body and today’s revelation was based on its study.
With nearly 600,000 hectares under tea cultivation, the domestic tea industry is growing at a compound annual growth rate (CAGR) of about 15 per cent, according to the study titled ‘Indian Tea Industry’.
Assocham general secretary DS Rawat while releasing a booklet containing the findings of the study said, “India is world’s largest consumer, second largest producer and fourth largest exporter of tea after China and accounts for nearly 30 per cent of global output and nearly 25 per cent of tea produced worldwide is consumed in India.” “Branded market accounts for nearly 55 per cent of the total market and is growing at about 20 per cent while the unbranded market is growing at 10 per cent annually,” DS Rawat added.
About 35 lakh workers are employed in over 1,500 tea estates across India and about 65 per cent of these are employed indirectly. Assam produces more than half of India’s tea and accounts for more than 12 per cent of annual global tea yield, Assocham said.
Nearly 90 per cent of Indian households are regular tea drinker, the beverage being cheap, affordable and addictive. According to an Assocham estimate the tea production during the current year is likely to stay over 950million kg as against 966.4 million kg in 2010.
“Awareness about health benefits associated with moderate intake of tea is another significant factor behind this upsurge in its demand as now more and more people are familiar with healing properties of tea,” Rawat said. “It not only helps combat heart related ailments but also helps lower cholesterol, protects skin, keeps cancer at bay, strengthens bones and teeth and contains no calories, fat and salt.”
Historically regarded as a hot beverage, the penetration of tea in the non-alcoholic cold beverage segment is another driving force for this industry owing to the rising affinity towards ice-tea which currently accounts for over five per cent of entire non-alcoholic beverage market in India, Assocham said.
Read more / Original news source: http://manipur-mail.com/blooming-tea-industry/
