India, Sept. 22 -- Jute manufacturers are expected to witness sales volume growth of 15 per cent this financial year, supported by stronger demand and a favourable cost environment, a Crisil Ratings report said on Monday.

India's jute industry is set for a meaningful recovery this fiscal after two challenging years marked by weak demand, high raw material costs and pressure on profitability, the report said.

A revival in domestic demand, improving export prospects and softer raw jute prices are expected to drive growth, improve profitability and support the industry's credit profiles.

It said sales volumes are projected to grow around 15 per cent this fiscal year, reversing an annualised decline of around 10 per cent over the previous ...