Sri Lanka is currently facing a deep economic crisis. India is helping Sri Lanka in this difficult period. But due to this economic crisis, India has got a good opportunity. The supply of tea has been affected due to the crisis in Sri Lanka. In such a situation, India has an opportunity to increase its share in the worldwide market through tea supply. Let us tell you, Sri Lanka is the largest tea exporting country in the world.
Sri Lanka is witnessing a power cut of 12 to 14 hours due to the crisis. Due to which there has been a huge decline in the production of tea. The commerce department is preparing to capitalize on this opportunity. According to the official of the Tea Board, 'India has the capacity to meet the supply of tea which has been affected due to the crisis in Sri Lanka. We are talking to exporters. At the same time, they are also trying to overcome the difficulties being faced on payment settlements with Iran. Indian exporters can do well if facilities like brand promotion in new markets are taken care of.
India can do good business in countries where traditional tea is imported. India can improve its position in the Iranian market as well as open new market opportunities in countries like Turkey, Iraq, USA, China and Canada.
According to the data collection done by the Tea Board in 2019, Sri Lanka exports tea to Turkey at $167 million, Russia $132 million, Iran $75 million, Iraq $104 million and China $55 million. In such a situation, now India has a chance to increase its influence on this market of Sri Lanka.
"We can focus our attention on the US, Canada, Iraq, Germany and China as there is tremendous potential here," a government official said in a statement. India can also pay attention to Turkey but the biggest problem is the 145% import duty imposed there. Sri Lanka The packaging plant in Turkey was consistently able to circumvent this fee. But India will not be able to do this.
Among nuclear programs is affecting the export of tea and rice to Iran, which is facing US sanctions. At the same time, the US sanctions on Russia are also facing many difficulties in expanding the possibilities of tea in this country. The highest demand for tea from India is in Russia, USA, UAE and UK. Now in the face of all these crises, India will have to remain its own.
