Calcutta: The Juteopolis of India

This article explores the celebrated history of the Calcutta jute industry, tracing its roots, its hegemony in the world markets and its decline. Starting in 1855 with the Acland Mill in Rishra, Bengal, the jute industry experienced significant growth under the managing agency system. The Indian Jute Manufacturers Association (IJMA), formed in 1884, fuelled the prosperity of the industry until the end of World War I. The article goes on to explain how Calcutta outstripped Dundee and Scotland to become the capital of the global jute markets and the ensuing boom in the jute shares market. It also discusses how the emergence of jute substitutes, the age-old policies of IJMA and finally the partition of British India led the industry onto the path of decline. The article concludes by emphasizing the potential of jute as a sustainable and eco-friendly crop that could play a significant role in the world of tomorrow.