Coir sector (jute industry) have registered a tremendous growth with an all time high figure of Rs 2282 crore. With a major push of MSME Ministry and its nodal agency Coir Board, Coir exports are soaring at a speed.
The notable fact is that export growth of Jute sector has not declined since 2014, as per figures presented by MSME Ministry.
Coir exports stood at Rs 1116 crore in 2012-13, Rs 1476 crore in 2013-14, Rs 1630 crore in 2014-15, while showed a 20 per cent rise in value at Rs 1901 crore in 2015-16. The figures have now soared to whopping Rs 2282 crore in 2016-17.
“We have accomplished so much in a very short time. We are bound to bring the Coir sector to Rs 20,000 crore industry in another 5 years”, said Coir Board Chairman C P Radhakrishnan.
#GSTforMSME Coir Export touch all time high @IndianCoir pic.twitter.com/3MTOPZTal1
— Ministry of MSME (@minmsme) June 15, 2017
The government is promoting jute product exporters under duty free Export Promotion Capital Goods (EPCG) scheme. Centre is working with Coir Board for increasing export of jute products.
The government has also initiated several schemes for the development of this industry – Coir Development Plan, Women Coir Plan, Coir Enterprises, being some of the prominent ones.
India produces and exports maximum jute in the world. China, US, Netherlands and South Korea are the chief buyers of Indian Coir products. The products majorly exported are Coir yarn, Coir mats, handloom matting, Coir rugs and carpets, etc.
Globally, India’s share in Coir yarn is 70 per cent and 75 per cent in Coir producers.
