Kerala gets ready to export ornamental fishes

July 15th, 2008 - 5:32 pm ICT by IANS  

Thiruvananthapuram, July 15 (IANS) Kerala will start exporting ornamental fishes, with an estimated annual market of $7 billion globally, by early next year, fisheries minister S. Sarma told the state assembly Tuesday. “A new company has been already formed under private-public partnership, the formalities are being taken care of, and by January we will be able to start exports of ornamental fishes,” Sarma said to a question raised by P.C. George, a five-time legislator who has now parted company with the treasury benches.

The state government has a 43 percent stake in the new company, the Kerala Aqua Ventures International Ltd (Kavil), with private partners holding the remaining.

The share capital of the new company has been fixed at Rs.81.3 million.

George told IANS that the scope and potential is huge and Kerala can make a mark if things are worked out properly.

“Singapore today is considered the leader in this industry bringing in precious dollars for their country. Kerala can come up fast through proper control and this could become an income generating profession,” said George.

Kerala has the potential to control 10 percent of the world market share in a decade, Kavil director A. Gopalakrishnan told IANS.

“Kavil’s export-import centre will be near Kochi. There will be 12 units, satellite farms and around 1,000 homesteads who will be engaged in this business in the first phase,” said Gopalakrishnan.

Those wishing to set up a unit will have to take shares to the extent of Rs.2.5 million. A satellite farm would require one acre land and a maximum investment of Rs.1 million, while a homestead can start with Rs.100,000.

“The market is so huge and a homestead can get an assured return of 10 percent by putting in around two to three hours work every day. Banks also have several schemes to finance those interested in taking up this business,” Gopalakrishnan said.

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |