Personal Profile
Shri Amitava Sinha, is the Director (Finance) of The Jute Corporation of India Limited (JCI), a CPSE under administrative control of Ministry of Textiles, Government of India. Shri Sinha is a B. Com from the University of Calcutta and an Associate Member of the Institute of Cost Accountants of India. He started his career with MSTC Limited, a Schedule-B, Miniratna Category 1 PSU, engaged in the business of e-Commerce and trade finance business. Shri Sinha was one of the core team members of the Western Regional Office (WRO) of MSTC at Mumbai overseeing the transformation of operations from manual to computerised system. Subsequently, he moved to the Head Office at Kolkata, where he led the development of the e-commerce (Forward and Reverse e-auction) platform. In the field of Trade Financing also Sri Sinha made substantial contribution in implementation of the revised model of business to mitigate credit risk. Prior to his present assignment, Shri Sinha worked as the Chief Financial Officer at Mahindra MSTC Recycling Pvt Ltd at Mumbai which is a 50:50 JV between MSTC & Mahindra Accelo (a group company of Mahindra & Mahindra). Mahindra MSTC Recycling Pvt Ltd was incorporated to set up country's 1st auto shredding and vehicle recycling infrastructure. Shri Sinha believes in hard work, sincerity, working in diverse areas, inter-personal skill and boundary management to create great place to work.
Company Profile
The Jute Corporation of India Limited (JCI) is a Central Public Sector Enterprise incorporated under the Companies Act in 1971 under the Ministry of Textiles (MoT). JCI is responsible for implementing the MSP policy for jute cultivators. JCI’s price support operations involve procuring raw jute from
small and marginal farmers at MSP without any quantitative limit as and when the prevailing market price of jute falls below the MSP. These operations help create a notional buffer in the market by removing excess supply, in order to arrest inter-seasonal and intra-seasonal fluctuations in raw jute prices. JCI’s Departmental Purchase Centres (DPCs), which are situated in jute growing areas, purchase raw jute directly from the farmers. JCI has around 110 DPCs of which 69 are in West Bengal, 19 in Assam, 12 in Bihar and the rest in the three other jute growing states of Andhra
Pradesh, Orissa and Tripura. During the year 2021-22, a very nominal quantity of raw jute could be procured by JCI under MSP operation since the market prices remained very high and the farmers were benefited with a higher than MSP prices in the open market itself. JCI plays a major role in jute ICARE scheme wherein the Corporation is responsible for field implementation of this important scheme under the purview of the National Jute Board. JCI has begun to distribute Certified High Yield jute seeds for farmers on a commercial scale and the Corporation is also making forays in the marketing and distribution of Jute Diversified Products (JDPs)The authorized and paid-up capital of the Corporation is Rs.5 Crore and the net worth is Rs.155.64 Crore as on 31.03.2021. The entire authorized capital has been subscribed by the Government of India.