Riveted by a severe economic crisis, Sri Lanka, a major player in the global tea market, is not able to export tea. This is actually creating a big opportunity for the Indians to tap into the market.
The tea traders of North Bengal said that the present condition in Sri Lanka, which has been unable to export its tea, could create opportunities for the new market in India.
Buyers in Sri Lanka who are unable to obtain tea due to the ongoing crisis will have to rely on India.
If the situation continues like this in Sri Lanka, the Indian market will boom, and people who look for good quality tea will have access to it as India produces good quality tea. If the Indian market expanded more, it would be a boon for the ailing industry.
Sri Lanka is a major producer of tea. They produce around 3 million kg of orthodox tea, and a maximum of their products are exported to European and American countries, but due to this economic crisis, buyers will hesitate to buy tea from Sri Lanka and will shift to India for this.
As the economic crisis in Sri Lanka is worsening day by day, several people, including those jobless, are participating in a protest against the government to get two-time meals.
The shift will boost the orthodox tea market in India. Sri Lanka is currently struggling with acute food and electricity shortages and the recession is attributed to foreign exchange shortages caused by a clampdown on tourism during the COVID-19 pandemic. The country is unable to buy sufficient fuel and gas, while the people are being deprived of basic amenities as well.