Business

Tea Board of India Signs Deal with Deloitte to Promote Consumption of Tea

Tea Board of India appoints Deloitte to boost consumption

The Tea Board of India has appointed Deloitte Consulting to evaluate the tea production and promotion to push forward per capita consumption of Tea.

Besides high production expenses, the shortage of Labor, low price acquirements, and unpredictable climate are said to be the most important factors that put pressure on tea production. The Tea Board of India has acknowledged that boosting per capita consumption in the nation is the need of the hour right now, and has named Deloitte to identify the way to this end.

Even though being the second biggest tea producer on the planet behind China, the tea utilization in India generally remains low. The nation did not make it to the main 25 on the world for per capita tea utilization in 2016.

Regardless, there is a development in the overall nation’s increasing consumption of tea levels. Moreover, being one of the top black tea producers in the world, the per capita utilization of tea in India is low as indicated in a survey conducted by Tea board-Deloitte. The per capita utilization of tea is as low as nearly 786 gm per year in India, which is not a favorable economic situation at the moment.

Arun Kumar Ray, the Deputy Chairman of the Tea Board of India, said in a seminar that,

“Instead of pushing the Board for more aid, the industry must come up with comprehensive funding plans. Deloitte was hired last month to increase per capita consumption and give emphasis on ‘exportable’ orthodox tea production.”

As indicated by Ray, the board has chosen to give importance to orthodox, specialized and green tea production while distributing new licenses. When the solid plans are developed, the Tea Board intends to raise more financing for production.

Currently, the Board has settled on the decision to concentrate on the tea production to decrease the production share engaged by crush, tear, and curl tea categories.

In India, Deloitte offers a scope of Audit, Tax, Risk Advisory, Consulting, and Financial Advisory services over 13 regions. Recently, Deloitte has partnered with Genpact to provide solutions in the areas of accounting and finance. It offers flexible business solutions and allows the organizations to handle their finance operations using FaaS solution.

The Big Four advisory and accounting firm have a significant presence in India, and as of now, it has customers from the tea production center. Therefore, Deloitte is well established to help the Tea Board, given its recognition with the business and tea production.

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