The government in December had announced incentives for exporters, including the extension of 2% interest subsidy for an additional one year ending March 2014.
I have had very detailed discussions with the finance minister as he had announced in the Budget speech about the FTP and exports-related matters and support to the industry, and the two ministries are in talks, Sharma said.
Besides, the trade deficit is expected to cross $190 billion in 2012-13.
It will be between $192-196 billion. It's a serious challenge because it directly impacts deficit scenario, current account deficit too, Sharma said.
During April-February 2012-13, exports declined by 4% to $265.95 billion. Sectors like engineering and textiles which are registering negative growth, are likely to get some sops in the policy.
Special Economic Zones, which contribute about 30% of the country's overall exports, may also to get incentives.
These would help in boosting exports and bridging the widening trade deficit which has touched $ 182.1 billion in the 11-month period of the last fiscal.
Sharma also said he would push for higher foreign direct investment (FDI) cap in the defense sector beyond the current 26%.