Abstract: The present invention discloses isolated polynucleotides encoding WUSCHEL-related homeobox4 proteins from two species of jute plants, namely, the Corchorus olitorius (“C. olitorius”) and Corchorus capsularis (“C. capsularis”), and corresponding polypeptides derived therefrom. The disclosed polynucleotide sequences encode WUSCHEL-related homeobox4 polypeptides (WOX4), which possess catalytic activities in enhancing fiber production in jute. The present invention also relates to the plants having a modulated expression of a nucleic acid encoding a WOX4 polypeptide, which have enhanced fiber yield relative to corresponding wild type plants or other control plants. Vectors, expression constructs and host cells comprising and/or consisting of the nucleotide sequences of the protein are also provided. Also disclosed are methods for producing the proteins and methods for modifying the proteins in order to improve their desirable characteristics.