A fascinating new development on a bilateral China-India joint-venture – this time of an ancient and shared historical product of both countries, Tea! Wonder if they’ll brand the product or the farm in a fusion’esque name such as ‘Chai & Cha Farms’ or perhaps ‘Chai and Cha Tea Brothers’!!!
Check it out…
Indian, Chinese tea firms join hands (GOV.cn Tuesday, May 8, 2007)
Indian firm Tata Tea recently entered into a joint venture agreement with Zhejiang Tea Import and Export Company of China, news website businessstandard.com reported Tuesday.
Quoting a release issued Tuesday by Tata Tea to the Bombay Stock Exchange, the website said the agreement involves setting up a joint venture company at Economic Development Zone of Anji County, China’s Zhejiang province, for manufacture and marketing of green tea polyphenols, other green tea extracts, instant tea, liquid tea concentrates and other value-added tea beverages.
The project cost is estimated at 16 million U.S. dollars be funded by a mix of equity capital and borrowings.
Source: Gov.cn (the Chinese government’s official web portal): http://english.gov.cn/chinatoday/2007-05/08/content_607894.htm and originally on Business Standard at: http://www.business-standard.com/compindustry/storypage.php?tab=r&autono=283882&subLeft=1&leftnm=1
The trade between China and India has been suppressed for many years with distrust on both sides. Certainly the economic ties and trade levels between the two superpowers is far below normal levels one would expect. There are many opportunities for companies and trade facilititators with knowledge of both markets to act as bridges between the two, and this interesting development – both cultural (tea) and economic (commerce) is a fascinating signpost of a possible future trend.