Andrew Yule & Co. Ltd. (AYCL) that has achieved its highest-ever growth trajectory, with tea exports up by 431% over the previous year's exports. An official statement said AYCL produces high-quality orthodox and CTC teas, including specialty teas like moon drop, silver needle, and oolong. “These teas have been exported to countries like the UK, UAE, and Poland, contributing to the company's record-breaking exports during the financial year 2022–23,” the statement said.
AYCL is the sole central public-sector enterprise (CPSE) of the Indian government in the tea industry. This company was established in 1863 and is a CPSE since 1979. It is an industrial conglomerate with active interests in tea, engineering, and electrical businesses. The company has 15 tea gardens spread over Assam and West Bengal.
Commenting on the high exports, Minister of Heavy Industries, Mahendra Nath Pandey said, “It is clear that the tea industry has immense potential for growth and expansion, both domestically and internationally.”
AYCL has also expanded into the retail segment of the tea market. The company plans to engage retail market developers in Rajasthan and West Bengal and set up at least 50 kiosks in financial year 2023-24, the statement said, adding that AYCL has also ventured into tea tourism with the establishment of its first tea resort at MIM Tea Estate, Darjeeling.