The issue was discussed during a meeting between Commerce and Industry Minister Suresh Prabhu and senior Exim Bank officials.
“What we are doing is prepare a complete detail market research. Exim Bank itself will not do,” the ministry official said.
Recently, Prabhu made a case for treating support measures to promote exports as investment and not subsidies, arguing that outbound shipments contribute in a big way to boosting growth.
Exports in October had entered the negative zone again, dropping 1.12 per cent.
The US and the European Union account for about 25 per cent of the country’s total merchandise exports.
Experts said huge potential exists in regions like south east Asia, East Africa and Latin America and specific plan would help boost the shipments.
“We should see the size of these markets, competitors, economic engagement with them, technical standards they follow and accordingly a strategy needs to be prepared,” Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai said. RR CS ANU