Jute, once touted as the Golden Fiber of Bengal, now occupies a less alluring position as a source of foreign currency.
To change this and improve the demand for the fiber, the Narendra Modi government has made jute packaging mandatory for 100 percent of food grains and 20 percent of sugar. The low yields in West Bengal and weak crop in Assam after the floods have added to the sector's concerns. The sector is a source of livelihood for 4 lakh workers and 40 lakh farmers. So will the government's amendments to the Jute Packaging Material Act, resuscitate demand for the eco-friendly fiber?
To discuss this, CNBC-TV18's Manisha Gupta spoke to Raghavendra Gupta, chairman of the Indian Jute Mills Association. Also, watch Manisha Gupta in conversation with Arvind Goenka and Ravish Kamath of Plastics Export Promotion Council of India where they spoke about their target of achieving exports worth $25 billion in the next five years.Watch the video to know more.