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StateTo Boost Ornamental Export Potential

INDIA - India's State Government has floated a company exclusively for the export of ornamental fish.

Named Kerala Aqua Ventures International Limited, the business has been formed in Public Private Partnership (PPP) and is part of state efforts to find a place in the international market of ornamental species.

According to the NewIndPress, the Kerala Government, the Kerala State Industrial Development Corporation and the State Fisheries Resource Management Society(FIRMA) will be the main stakeholders of the company. Canara Bank, which will be the official bank, will provide financial assistance to the entrepreneurs.

The State Government will hold 40 percent of the stake while the rest will be with the private sector. The Chief Minister will be the chairman of the company.

The company began during December 2007 and ornamental fish exports from India will now be under the control of Kerala Aqua. It will also hold the control of the Aqua Park being constructed at Kadungalloor near Aluva which is expected to be operational by December 2008.

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