The Jute Corporation of India (JCI) has procured 3.46 lakh bales worth ₹190 crore in the last two years, benefitting around 39,000 farmers, according to minister of state for textiles Ajay Tamta. An amount of ₹100 crore has been approved for 2018-19 and 2019-20 for procurement operations by JCI, Tamta told parliament lower house in a written reply recently.
The government imposed definitive anti-dumping duty in January 2017 on jute goods originating from Bangladesh and Nepal, according to a textiles ministry press release.The Jute Corporation of India (JCI) has procured 3.46 lakh bales worth ₹190 crore in the last two years, benefitting around 39,000 farmers, according to minister of state for textiles Ajay Tamta. An amount of ₹100 crore has been approved for 2018-19 and 2019-20 for procurement operations by JCI, Tamta told parliament lower house in a written reply recently.#
Based on the current level of imports, the industry has estimated that this has created scope for upto 2 lakh MT of additional demand for jute goods to be met by the Indian jute industry and has helped in reopening of 10 closed jute mills in Andhra Pradesh, employing about 25,000 workers.
The government is also implementing the Incentive Scheme for Acquisition of Plants and Machinery (ISAPM) for the jute sector and manufacturing units for diversified jute products. The aim of this scheme is to facilitate modernization in existing and new jute mills and offering assistance to a large number of entrepreneurs to manufacture value-added bio-degradable diversified jute products.
An amount of ₹37.40 crore has been disbursed to the jute mills during the last four years for modernizing machinery. (DS)
Fibre2Fashion News Desk – India
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