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Mangalore, Apr 9: The Marine Products Export Development Authority (MPEDA) launched a financial assistance scheme for setting up of export-oriented ornamental fish breeding units.

Ornamental Fish Development State Coordinator P K Pramod, stated in a press release, that the scheme was introduced as part of the efforts to promote sustainable export trade of ornamental fish from the country.

Financial assistance would be extended for setting up small, medium and large-scale export-oriented ornamental fish breeding units, he said and added that another scheme for setting up ornamental fish marketing societies would soon be launched by the MPEDA.

Pramod said that India’s contribution to global ornamental fish export trade in 2006-07 was negligible at 0.5 per cent. Though the fish culture in India involved breeding and trading of exotic species, the export market was dominated by wild species, he said and added that the ornamental fish sector in India had potential for tremendous growth and large-scale employment generation. Currently, there were about 400 aquariums in Karnataka, he said.

Pramod pointed out that the objectives of the current financial assistance scheme was to generate employment in rural and urban households.

Financial assistance ranging from Rs 75,000 to Rs 7.5 lakh would be granted and subsidy to the tune of Rs 5 lakh per unit, he said, adding that more information could be had from the MPEDA Sub Regional Office in Hampankatta in the city.