The External Affairs Ministry today said it will draw a roadmap for Indian Missions abroad to push export promotion activities and help the country to arrest export slowdown.
"The Ministry of External Affairs intends to try and draw a roadmap for Indian Missions abroad in the identified core areas of export and investment so that all export promotion activities have a certain focus and are result oriented," an official statement said.
The issue was discussed during a meeting chaired by Pinak Ranjan Chakravarty, Secretary (Economic Relations) yesterday.
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The meeting, which was was attended by representatives of 26 Export Promotion Councils and business chambers - Ficci, CII, Assocham and PHD Chamber, aimed at identifying the possible thrust regions and products for undertaking export promotion activities.
"Providing market intelligence was one area in which missions' assistance was found useful and this could be further strengthened. The possibility of investment promotion and business development in the two key sectors of pharmaceuticals and electronics was discussed," the statement said.
EPCs have suggested export promotion activities which could be carried out by the Missions.
"The EPCs identified certain areas and countries, which in their view, could be concentrated upon for market expansion activities. These included markets of Latin America, Eastern Europe, East Asia and South East Asia," it said.
The councils also raised some of the problems which they face in different sectors.
"The participants were assured that their suggestions would be looked into and conveyed to Indian Missions abroad, where necessary," it added.
It was also agreed that regular meetings on investments, exports and sectoral issues would be held by the ministry so that these interactions are dynamic and lead to substantial outcomes.
It follows an earlier meeting chaired by Ranjan Mathai, Foreign Secretary in February 2013, wherein it had been decided that regular meetings would be held with the business chambers and other entities to identify focus areas for trade and investments.
India's exports declined by 1.76% to $300.6 billion in 2012-13. Trade deficit during the fiscal touched an all time high of $190.91 billion.
