Jute industry suffers Rs 28 bn loss on stagnating production of goods: IJMA

Raw jute production has slid and exports of finished goods have also plummeted in value and quantitative terms

The jute industry is reeling under Rs 28 billion loss as production of jute goods has stagnated, an industry paper said.

The document prepared for the government indicated that jute goods production has stayed range bound at 1.2-1.3 million tonnes (mt) since 2014-15, down from the previous levels of 1.5-1.6 mt. Conservative estimates have pegged the loss to the industry at Rs 28 billion as production hit a plateau.

Indian Jute Mills Association (IJMA), the industry lobby body which has prepared the document, has rued that a host of factors have crippled production growth and sucked out nearly  0.4 million