Govt eyes turning jute sector into $7b industry: Minister

Textiles and Jute Minister Khandakar Abdul Muktadir today (19 May) said the government aims to transform Bangladesh's jute sector into a strong $5–7 billion industry from the current export earnings of around $1 billion through proper planning, modern technology, research, improved seed production and expansion of diversified jute products.

"Although the country's total export earnings have risen to around $50–55 billion, the contribution of the jute sector remains limited to nearly $1 billion. In this context, the government has taken timely initiatives to unlock the sector's vast potential," Muktadir said while inaugurating the Multi-purpose Jute Products Fair-2026 at the Jute Diversification Promotion Centre in Farmgate.

The minister said around 90% of Bangladesh's export earnings in fiscal year 1972-73 came from jute and jute goods following the country's independence. "At that time, total export earnings stood at $348 million, of which the jute sector alone contributed $313 million."

Muktadir said the first priority for sustainable development of the jute sector is to achieve self-sufficiency in producing quality jute seeds.

Currently, Bangladesh depends on imports to meet an annual demand of nearly 6,000 tonnes of jute seeds, he said, adding that steps would be taken to ensure domestic production of quality seeds and reduce import dependency.

The minister said diversification of jute products, innovation in designs and expansion into high-value markets are essential to ensure fair prices for farmers. "To this end, investment in research, innovation and technological development will be increased."

Muktadir also said the government plans to undertake joint initiatives with leading Chinese universities to enhance productivity in the jute and leather sectors, develop improved seeds, introduce new products and create internationally competitive designs. "A comprehensive roadmap is being prepared in coordination with the Jute Diversification Promotion Centre and private sector stakeholders."

"At the same time, initiatives have been taken to bring state-owned jute mills under private management to ensure modernization, increased production and profit-oriented operations," he said.

The minister said Prime Minister Tarique Rahman is keen to restore the lost glory of the country's jute sector. Under his leadership, the government will regularly review progress at every stage of the sector under a time-bound action plan and take necessary measures accordingly.

Speaking as special guest, State Minister for Textiles and Jute Md Shariful Alam said collective efforts are needed to advance the economic and social transformation of the jute industry. "Only then will jute regain its past glory, earn huge foreign currency and improve the socio-economic condition of jute farmers and all those involved in the sector across the country."

Shariful said the revival of the sector would create new employment opportunities in both rural and urban areas.

After the programme, the minister and state minister visited different stalls at the fair and exchanged views with entrepreneurs on the prospects, market expansion and existing challenges of jute products.

The five-day fair will remain open to visitors every day from 10am to 9pm until 23 May.