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'Expect 20% annual returns over 5 years'
From a low of 8,047 in March 2009, the Sensex has more than doubled over the last three quarters. With such a sharp upmove and valuations in the expensive territory, experts say that investors will have to temper their returns expectations for the current year. To find out the direction of the markets and promising sectors as well as the key concerns, Vishal Chhabria spoke to Krishnamurthy Vijayan, executive chairman, J P Morgan AMC. Excerpts:

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J K Lakshmi to invest Rs 1,600 cr on expansion
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International Business

Local techniques a hurdle in issuing catch certificates

The process of issuing catch certificates for export of marine products to European Union (EU) is now facing another hurdle. The issue of such certificates has become a complex exercise as the local fishing practices are not in tandem with the requirements of the European Commission (EC). - EU opens monopoly abuse probe into Thomson Reuters - European Commission objects to $7.4 bn Sun-Oracle deal - India, EU sign civil nuclear pact - India, EU to resolve bilateral trade differences - Stronger strategic ties elude India, EU - EU to come out of recession this year The EC had announced earlier that catch certificates should be accompanied with exports to the nation from January 1, 2010. The Government of India had authorised Marine Products Export Development Authority (MPEDA) as the nodal agency to issue these certificates. The EC emphasises on authentication of the captain of fishing vessels as a pre-condition to issue certificates. But the local fishermen use small boats and the number of deep sea vessels is very less and they do not have a competent captain but a group of people who control the boat. Thus, there will not be a particular person to sign the catch certificate. EC also insists on a number of facilities in the fishing vessels such as clean toilets, resting rooms etc. A majority of Indian boats do not even have toilet facilities. Local fishing community and exporters feel that insisting on catch certificates would jeopardise India’s export prospects to EU nations as the conditions laid down are very difficult to follow. A section of exporters said that it is a kind of trade bias for India. They also said that the government should take up this issue with the World Trade Organisation.


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