India has imposed anti-dumping duties on jute products from Bangladesh. This has affected Bangladesh’s jute exports. India slapped the anti-dumping duty on January 5 this year.

In the meantime Bangladesh is expanding the jute industry. There is a proposal for forming a special fund as part of initiatives to restore the past glory of jute. Bangladesh has taken the initiative to go in for balancing, modernisation, renovation and expansion of 26 jute mills in phases.

Bangladesh currently has 26 jute mills, which are 60 to 70 years old, and of which 24 mills, which are now in operation, are annually producing 2,08,642 metric tons of jute goods against their original annual production capacity of 3,45,000 metric tons.

China has been providing technical and financial support to Bangladesh for revitalising the jute sector. Bangladesh will take technical assistance from China for modernizing 24 state-owned jute mills for producing diversified jute goods. Bangladesh will set up a jute viscose plant with financial and technical assistance from China. Viscose is a kind of manmade natural fiber. Products made using jute viscose could bring in three to four times more profits than products made using jute fiber.

Jute is one of the most affordable natural fibers and considered second only to cotton in the amount produced and the variety of uses of vegetable fibers.