The Tata group revealed plans to grow tea in Ethiopia. The corporation has expressed interest in tea farming in Ethiopia said Esayas Kebede Director of the Ethiopian Ministry of Agriculture and Rural Development.

The Ethiopian authorities are in dialogue with Tata according to Esayas. Tata, owner of ‘Tetley’ tea brand, has ventured a proposal he added. Ethiopia has land suitable for tea cultivation according to Esayas.

Favorable land and labor costs area available to Indian companies wishing to invest in the agriculture industry Esayas explained. Bilateral trade between India and Africa have increase significantly and in Ethiopia, approximately 70% of 40,000 hectares designated for contract farming has gone to Indian companies, he added.

Increasing its investment presence in the African continent is a wise decision for Tata, The expansion allows it to take advantage of newly created opportunities and helps cut down custom and excise on imported goods according to regional sources.

Tata Africa Holdings (SA) Pty Ltd has a presence in 10 countries of the continent in sectors as varied as information technology, communications, automobiles, steel, hospitality, consumer products and chemicals.

Source: livemint.com