The government is mulling to increase Minimum Support Price (MSP) for raw jute by at least Rs 300 per quintal as it is essential to encourage the farmers to increase the production of raw jute in the country, said the Textile Minister, Mr. Dayandhi Maran while speaking at an interactive session on the future of Indian jute industry.
The MSP for raw jute is presently Rs 1,375 per quintal. The Minister said that the industry has failed to modernize its factories and has become lethargic as it receives a fixed amount of business from the government.
Progress of jute technology mission is very slow compared to the cotton technology mission. The jute industry should broaden its horizon to survive for a longer period as the government protections such as compulsory jute packaging for food grains may not continue for long, added the Minister.
He further informed that the National Fibre Policy would be in place by the end of current year which will offer same status to both, man-made and natural fibre, to compete in the global market.
Fibre2fashion News Desk - India
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