A natural fibre thermoset composite product of high tensile strength, high compressive strength, high cross breaking point, high water absorption properties and a method for producing the same. The product comprises bamboo and jute fibre, resins, fillers and additives wherein bamboo and jute are present in the ratio of 1:99 to 99:1 as reinforcement material. The method of manufacture of natural fibre thermoset composite product of high tensile strength, high compressive strength, high cross breaking point, high water absorption properties comprises forming slurry with resin solution, fillers and optional additives; impregnation of bamboo and jute provided in a ratio of 1:99 to 99:1 as reinforcement material into the slurry; drying said impregnated bamboo and jute composite in oven at temperature of 100.degree. C. to 200.degree. C.; cutting said impregnated and dried bamboo and jute composite into required size; said impregnated dried cut pieces of bamboo and jute composite multilayered according to require thickness and pressed in the hydraulic press at a pressure 1 to 3 tons per square inches for a definite period at a defined temperature. The composite product is adapted to be used as floor board, paneling sheet, roofing material and the like.