Why India’s tea giants face rising competition from cheaper alternatives
India's tea market faces challenges as cheaper imports and lower prices drive consumers towards sub-brands and the unorganised sector. This shift has pressured larger companies, like Tata Consumer Products Ltd, which reported a 4% revenue decline in its tea segment despite a 2% volume growth overall. In response, these companies are focusing on premiumisation and diversifying product offerings to mitigate the impact of the slowdown.