Jute export to India from Bangladesh’s has noted decline in recent months after former imposed anti-dumping duty. The export of jute dropped 52 per cent in January and 37 per cent in February. The anti-dumping duty has been imposed for five years and applies to products such as jute yarn, hessian fabrics and jute sacks.
Jute holds position of being the third largest export earning sector of Bangladesh, after garments and leather, and India is one of the biggest markets for the fibre. The country accounted for 17 per cent of jute goods exported by Bangladesh in fiscal 2015-16.
On her recent visit to India, Bangladesh Premier Sheikh Hasina said, “We have discussed the review of anti-dumping duties imposed on jute export from Bangladesh, and resolved the issue. To bring balance in trade between the two countries, we have decided to set up Special Economic Zones for India in Bangladesh at identified locations.”