Jute exports in the first five months of this fiscal have dropped both in terms of value and volume as compared to the same period in the previous year.
Cumulative exports in rupee terms were lower by 12 per cent at Rs. 565.50 during the said period.
In dollar terms, exports were lower by 14 per cent.
ADVERTISEMENT
Hit hard by competition from Bangladesh, Indian exporters find it tough to retain their share in the international market. Exporters also rue the absence of any Central scheme at a time when the Bangladesh government extends a range of benefits to aid exports.
While India has a 55 per cent share in world jute production, followed by Bangladesh (41 per cent), India’s share in exports is a mere 22 per cent and Bangladesh’s 77 per cent
ADVERTISEMENT
The Union Textiles Ministry, which governs the jute sector, had noted recently that there was no specific scheme to promote jute goods in the international market after the expiry of the External Market Assistance Scheme.