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Jute Park to be set up soon at Purnia
21
Dec '09
The Bihar Industrial Area Development Authority (BIADA) has allotted 44.5 acres of land for State Government's proposed multi-purpose jute park at Maranga in Purnia district. Estimated cost of the projected park, which is to be set up under public-private partnership mode, is Rs. 1.5 billion, informed the officials.

The Bihar government is also all set to establish jute marketing yards at Gulabbagh (Purnea), Bahadurganj (Kishanganj) and Kishanganj, in order to facilitate the marketing of jute products. The Jute Corporation of India (JCI), an official agency of the Government of India, has been informed the status of the project, said the official.

Key objectives of JCI are to offer Minimum Support Price (MSP) to the jute cultivators and assist the raw jute sector. The Central Government has increased the MSP by Rs. 125 for the ongoing year against previous year, and announced an MSP of Rs. 1,375 for TD-5 grade jute, this year.

Jute also called the 'Golden Fibre' is the most versatile fibre of nature and is utilized to manufacture variety of handicraft items, beside, producing sacks and cordage. Following cotton, jute is the cheapest and a significant fibre among all textile fibres.

Yearly turnover of jute industry accounts for Rs. 65 billion and overall export value of jute items stands at around Rs. 10 billion. However, the industry is facing big hurdles in its growth, such as high production cost and poor supply chain management, Bihar is India's second largest producer of jute based products.

Fibre2fashion News Desk - India

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