Jute Industry of Bangladesh: Reclaiming the Lost Glory
FROM THE EDITOR
On March 6th, 2022, the country observed National Jute Day. The Ministry of Textile and Jute celebrated this day with the slogan ‘Sonali Asher Sonar Desh, Paribesh Bandhab Bangladesh’. Although this industry has lost much of its glory off late, as it has been battered by factors such as lack of diversification, inadequate local demand, mismanagement, corruption, etc., jute, which was synonymously referred as ‘the golden fiber’ is still the second export earning sector next to RMG. The sector has an average contribution of 3% in our export earnings and 1% in GDP. The demand for high-tech jute goods across the globe is huge and at times when the world environmentalists are echoing for environmental sustainability, jute can be a potential game-changer for our economy, if the industry can flourish to its potential. The jute industry of Bangladesh will get its glorious days back, if right focus and government support is given to this industry.
RIFAT ISHTIAQ KHAN
IDLC Finance Ltd.