Indians welcome tea investment
INDIAN tea producers are welcoming foreign investment in their industry, according to the Financial Times.
Foreign companies have been prohibited from owning more than a 74% stake in tea producers since the 1970s.
But the countrys producers see many benefits arising from foreign investment.
One said foreign companies set the standards for agricultural practices, and that the productivity of their gardens is much higher.
Foreign companies such as Unilever have been interested in becoming involved at the producer end as a way of insulating themselves from fluctuations in the tea auction prices.
- Financial Times 16/02/2000 page 38