What the Sri Lankan crisis means for India’s exporters
2 years, 8 months ago

What the Sri Lankan crisis means for India’s exporters

Live Mint  

Sri Lanka’s $51 billion debt default and its ongoing economic crisis may present an opportunity for Indian exporters of tea and textiles. According to tea exporters, India is well-positioned to capture markets in countries that import orthodox tea—loose-leaf tea that is produced using traditional methods. Besides strengthening its footprint in Iran, the Sri Lankan economic crisis could open up newer markets such as the US, Turkey, Iraq, China, and Canada. The Indian government last week removed basic customs duty of 5% on cotton imports, but it is unlikely to bring down prices significantly as raw material costs are on the rise globally.

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History of this topic

Unveiling the Untold Threads of Indian Trade Textiles in Sri Lanka
1 month, 3 weeks ago

Unveiling the Untold Threads of Indian Trade Textiles in Sri Lanka

New Indian Express  

A new exhibition in Bengaluru explores the lesser-known trade history between India and Sri Lanka. Curated by textile designer and researcher Yash Sanhotra, 'Chay Reds, Ferrous Black: The Untold Stories of Indian Trade Textiles in Sri Lanka' showcases textiles from the late 18th to the 19th century, tracing the evolution of trade relations between the two countries. The exhibition highlights …

Tea Association of India warns of return to ‘dark phase’ for industry
11 months, 2 weeks ago

Tea Association of India warns of return to ‘dark phase’ for industry

The Hindu  

Guwahati India’s tea industry is experiencing challenges reminiscent of the “dark phase” of 2002-07, calling for introspection and resilience, an association of tea growers and manufacturers has said. “The economic strides made by our nation are indeed commendable, yet the tea industry is currently experiencing challenges reminiscent of the dark phase two decades ago,” Ajay Jalan, the president of the …

India’s global exports in labour-intensive sectors declined in last 5 years: FIE
1 year, 2 months ago

India’s global exports in labour-intensive sectors declined in last 5 years: FIE

Live Mint  

With India experiencing a decline in global market share across segments during the last five years, the labour-intensive export sectors such as apparels, marine products, plastics, and gems and jewellery are showing a "troubling pattern", news agency PTI quoted FIEO report as saying. "An analysis of sector-wise export performance for the last five years reveal the troubling pattern that India …

India tea exports dip in January-June
1 year, 3 months ago

India tea exports dip in January-June

The Hindu  

Indian tea exports in the first six months of calendar 2023 saw a slight dip in volume compared with the year-earlier period. Data shared by the United Planters Association of Southern India show overall tea exports between January and June this year slid 0.8% to 96.3 million kg this year. Worldwide, tea exports have seen a decline, including shipments from …

Tea Board seeks ₹1,000 crore for next five years for the industry
2 years, 1 month ago

Tea Board seeks ₹1,000 crore for next five years for the industry

The Hindu  

The Tea Board has sought an assistance of ₹1,000 crore from the Ministry of Commerce for the tea industry in the next five years. Tea Board chairman Sourav Pahari said the proposed budget for five years starting 2022-23 takes into account small tea growers, orthodox subsidies to the industry, technology and research as well as promotion. Speaking at the 139th …

Tea exports rise in first seven months of 2022
2 years, 2 months ago

Tea exports rise in first seven months of 2022

The Hindu  

Tea exports during the period January to July in the calendar year 2022 have touched 116.36 million kg as compared with 103.38 million kg in the same period of 2021. According to Tea Board data, exports to the largest importing block, the CIS countries, remained almost stagnant at 25.20 million kg as against 24.98 million kg in the first seven …

TMSEp201: Sri Lanka crisis, crypto, housing finance cos, President election
2 years, 6 months ago

TMSEp201: Sri Lanka crisis, crypto, housing finance cos, President election

Business Standard  

Sri Lanka’s economy is in a free fall for a while now, it is hurtling fast towards bankruptcy. This crisis is having a crippling effect on its apparel and famous tea industries also -- the mainstays of Sri Lanka’s economy. But some spillover of the Lanka crisis is hurting Indian businesses too, like the auto sector. While analysts believe that …

High in pesticides, many countries send back Indian tea
2 years, 6 months ago

High in pesticides, many countries send back Indian tea

Hindustan Times  

Both international and domestic buyers have rejected a series of tea consignments due to the presence of pesticides and chemicals beyond permissible limits, Indian Tea Exporters Association chairman Anshuman Kanoria said on Friday. However, most of the buyers are purchasing tea that have unusually high chemical content, Kanoria told PTI. Kanoria said that many countries are following strict entry regulations …

Rupee-rouble trade, Lankan crisis lift tea exports from Kerala
2 years, 7 months ago

Rupee-rouble trade, Lankan crisis lift tea exports from Kerala

The Hindu  

Tea exports from Kerala have started to climb after hitting a record low at the beginning of the Russia-Ukraine war. Sales have been steadily increasing over the past few auctions and 1,95,965 kg of orthodox leaf out of the total 2.24 kg put up for sale was sold in the last auction. Exporters estimate that tea production in Sri Lanka …

The Lankan crisis is a chance for Indian tea sellers, but it’s a long haul
2 years, 7 months ago

The Lankan crisis is a chance for Indian tea sellers, but it’s a long haul

Live Mint  

KOLKATA : At Sunil Garg’s tea warehousing and blending facility on Kolkata’s southern fringes, workers line the insides of cardboard cartons with silver foil, fill each with 10 kg of Assam orthodox tea, and keep them aside for a shipment to Dubai. Due to various reasons, India earns lower revenues than Sri Lanka from overseas tea markets despite being the …

Tiruppur garment exporters likely to receive more orders amid economic crisis in Sri Lanka
2 years, 7 months ago

Tiruppur garment exporters likely to receive more orders amid economic crisis in Sri Lanka

The Hindu  

As Sri Lanka reels under the ongoing economic crisis, Tiruppur-based garment exporters are expecting that international apparel buyers might shift their orders to India, Tiruppur in particular. Raja M. Shanmugham, president of Tiruppur Exporters’ Association, said only “some incomplete orders” from Sri Lanka had come to the garment units in Tiruppur for completion in the past few months. A. Sakthivel, …

Crisis in Sri Lanka benefits Indian textiles
2 years, 8 months ago

Crisis in Sri Lanka benefits Indian textiles

Live Mint  

With Sri Lanka buffeted by economic headwinds, Indian apparel exporters are beginning to receive orders from the UK, EU, and even Latin American countries where Indian textiles had little or no presence. Textiles and garments contributed nearly half of Sri Lanka’s exports but fuel shortages amid its worst financial crisis and ensuing power cuts are disrupting the production of key …

Economic crisis tightens grip on Sri Lanka’s hinterland
2 years, 10 months ago

Economic crisis tightens grip on Sri Lanka’s hinterland

The Hindu  

As Sri Lanka’s economic crisis makes global headlines, estate worker B. Sundararajan is watching it manifest in his teacup. Besides the irony of a tea plantation worker, producing the famed ‘Ceylon tea’, rationing his own tea intake, Mr. Sundararajan’s reality lays bare the severity of Sri Lanka’s current economic meltdown. Colombo has foreign debt obligations totalling nearly $7 billion this …

Sri Lanka’s Malaiyaha Tamils living in inhumane, degrading conditions: U.N. expert
3 years ago

Sri Lanka’s Malaiyaha Tamils living in inhumane, degrading conditions: U.N. expert

The Hindu  

Sri Lanka’s Malaiyaha Tamil workers, whose labour in tea plantations fetches precious foreign exchange to the country, are living in “inhumane and degrading” conditions, a U.N. expert has said. Pointing to the workers’ colonial-era line room accommodation, where up to 10 people live in a 10x12 space, poor sanitation, and the persisting denial of land rights to the community, Mr. …

Mills association seeks rollback of duty on cotton imports
3 years, 10 months ago

Mills association seeks rollback of duty on cotton imports

The Hindu  

The Southern India Mills’ Association has sought a rollback of the 10% customs duty on cotton imports announced in the Union Budget, as it would escalate the cost of garments and result in higher import of garments, especially from countries such as Bangladesh and Sri Lanka. Ashwin Chandran, chairman of Southern India Mills’ Association, said that India imports mainly extra-long …

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