Read the following passage and answer the questions given below.Challenges faced by the industry include stiff competition in the international market from synthetic substitutes and from other competitors like Bangladesh, Brazil, Philippines, Egypt and Thailand. However, the internal demand has been on the increase due to the Government policy of mandatory use of jute packaging. To stimulate demand, the products need to be diversified. In 2005, National Jute Policy was formulated with the objective of increasing production, improving quality, ensuring good prices to the jute farmers and enhancing the yield per hectare. The main markets are U.S.A., Canada, Russia, United Arab Republic, U.K. and Australia. The growing global concern for environment friendly, biodegradable materials, has once again opened the opportunity for jute products.1) What is the industry mentioned in the above passage?2) What are the challenges faced by the industry?3) When was National Jute Policy formulated?4) Name the main markets mentioned in the passage5) To stimulate demand, the products need to be