Indian firm signs contract to supply $1 million worth of tea to China (Photo- Twitter/@EOIBeijing)
An Indian firm has signed a contract with a Chinese firm to export $1 million worth of Indian black tea.
Jay Shree Tea & Industries Ltd has signed a $1 million contract with Chinese company COFCO (China Tea) for export of Indian black tea to China, a press release from the Indian Embassy here said.
India exported about 8 million kg of tea valued at $25 million last year, registering 29 per cent year-on-year export growth in value terms.
The contract was signed at the China International Import Expo (CIIE) being held in Shanghai.
Most of this growth is due to the rising demand of Assam CTC black tea, known for its strong colour and flavour, which goes well with milk based tea drinks, it said.
The growth momentum seems to be continue with efforts of the Indian Embassy and Consulates bearing fruits in signing of larger export contracts with Chinese companies.
As per the contract between Jay Shree Tea and COFCO, the former will supply Assam CTC black tea to the latter. Currently, China is India’s 10th largest tea export destination. This is poised to be improved with more and more Indian tea finding its way into huge Chinese market.