Analysis of prospects and scope of jute industry in India and Bangladesh

Bangladeshis popular for Jute industry. The country produced 41.94% of World Raw jute production, whereas India is the leading country for Raw Jute production. India produced 55.23% of World Raw Jute production. Both India and Bangladesh exhibited increasing trend in Raw Jute production. Bangladesh Jute cultivation land area has been increasing by 81.5% from the year 2006 to 2012. India exhibited constant for Jute cultivated land area. Productivity (tonne/hectare) of Raw Jute is higher in India than Bangladesh. In the year 2012 Indian Raw Jute productivity was 2.39 tonne/hectare, whereas Bangladesh reported 1.91 tonne/hectare. China exhibited increasing trend of raw Jute productivity. China reported 3.21 tonne/hectare in 2012 which was much higher than India and Bangladesh on the same year. 4% share of Jute sector in overall GDP in Bangladesh. Both India and Bangladesh exhibited increasing trend in Jute goods production. Jute yarn exports of Bangladesh has been increasing by 24.8% in 2012 than 2007 and its share was 86.17% (2012) to the global Jute Yarn exports. Due to MSP support by JCI, Indian Jute growers faced less loss than Bangladesh Jute Growers.