News Tags

Related Keywords: acing deep crisis, cheaper price, deferment of taxes of commercial taxes, Delegation of management representatives, exports raw, finished products to India, illegal import of yarn and twine, jute industry in North Andhra region, seek financial package, sought incentives in power bills, stiff competition from products from Bangladesh

A delegation of management representatives planned to meet Chief Minister N. Chandrababu Naidu for seeking financial package for the jute industry in North Andhra region as it is facing deep crisis due to stiff competition from products from Bangladesh which exports raw and finished products to India at cheaper price. Apart of which illegal import of yarn and twine from Bangladesh is another challenge.

Related Keywords: ban, Bureau of Indian Standards, cheaper price, government quota, importing jute bags, Indian jute mills association, jute mills, poor quality, unfair trade practices

Some jute mills, including a majority of them belonging to Indian Jute Mills Association (Ijma), have been found illegally importing jute bags from Bangladesh and Nepal at a cheaper price to sell it at higher prices to the state-owned food procuring agencies for profiteering.
The Jute Commissioner has warned the jute industry of a ban on their getting a government quota for five years, citing unfair trade practices by some mills.

The Jute Packaging Materials Act, 1987 provides for compulsory packaging of sugar and food grains in jute bags by government agencies up to 100 per cent.