date:Nov 26, 2018
10 percent of the indents of jute bags for packing foodgrains would be placed through reverse auction on the Gem portal. This will gradually usher in a regime of price discovery.
Impact
The decision will give a fillip to the development of jute sector; increasing the quality and productivity of raw jute, diversification of jute sector and also boosting and sustaining the demand for jute products.
This is important considering the fact that nearly 3.7 lakh workers and several lakh farm familie