Meeting representatives of L&T and the Thapars today, to discuss problems related to exports and export procedures, the minister assured the companies that a committee of Commerce Ministry officials would draw up an action plan on the basis of the presentations made by the corporates.

According to an official release the chief executive officer of L&T, S D Kulkarni, demanded exim and export credit counter guarantee (ECGC) financing for large projects for any substantial improvement in exports.

The companies were selected on the basis of a Ministry study which identified the top 500 companies of the country and their export turnover in relation to theiroverall turnover.

According to official estimates, the export turnover of the country's top 20 companies accounts for less than 10 per cent of their Rs 2,000-crore turnover and the Government is keen on reversing this trend.

The companies made presentations today on what facilities they would require to step up exports. They said that a deemed exports status was inadequate and demanded treatment of deemed exports on par with physical exports.

The Minister is scheduled to meet Reliance, the Tatas, the Birla group comprising 77 group companies, the Bajaj group, the Singhanias, RPG, the TVS group and Mahindra & Mahindra besides representatives of the Modi group, Chidambaram group, the Shriram group, Essar, Mafatlal, Escorts, the Bangur group, Kirloskar, the Murugappa Chettiar group, the Jindals, the UB group and the Wadia group.