US, European Union and the Asian markets will now qualify for additional sops. Exporters are facing a demand slowdown in these markets.
"With these measures, we should be able to give a push to our exports in the last quarter of this financial year. The objective is to stabilise the situation and try and move from the negative territory to positive," Sharma has said.
Rising trade deficit has been cited by several global rating agencies like S&P as a key area of concern for the Indian economy.