Overseas Construction Council of India (OCCI) for civil contracts.

(ii) Exim Bank for Turnkey Projects and consultancy project.

(The above figures represent only the value of contracts secured)

The Overseas Construction Council of India acts as a focal point for channelisation of
information and identifies Indian companies capable of executing projects in overseas
markets.

Promotional Measures and incentives

Market Development Assistance (MDA) given by the Department of Commerce to

Export Promotion Bodies / Individual Exporters to undertake various export promotional
and developmental activities as prescribed in the MDA Code has been revised to make it
more exporter-friendly. Reserve Bank of India (RBI) has revised the Project Exports
Manual (PEM) thereby simplifying export procedures to promote project exports.

FUTURE PROSPECTS

Experience gained by Indian firms through participation in domestic projects of a diverse

variety is relevant to the needs of other developing countries. Scope exists to initiate our
presence in new markets, and cover new sectors. The recent trends observed in the
pattern of bidding by Indian project exporters are encouraging particularly for project
opportunities in neighbouring and other developing countries. Indian project exporters'
technical and managerial capabilities are of the highest order in the world market. Indian
project exporters are hopeful of penetrating new overseas markets to secure increased
share in project exports.
Indian Investment Centre is an autonomous body functioning under
the Ministry of Finance, promoting foreign private investment including
NRI investment. It is a nodal agency for investments by NRIs, PIOs
and Overseas Corporate Bodies. It provides guidance and information
on Government of India investment policies, procedures, availability of
infrastructural facilities, incentives, and investment opportunities and
extends related advisory services. That is, it is functioning as a single
window agency for projects with NRI investment and provides all
necessary services for setting up such project.

The Ministry has also set up an 'Overseas Indian Facilitation

Center (OIFC)' as a not-for-profit trust, in public-private partnership
with Confederation of Indian Industry (CII). The Center act as ‘one-
stop shop’ for serving the interests of the Indians located abroad, like
Non-Resident Indians and Persons of Indian Origin. It aims to bring the
Indian States, Indian Business and potential Overseas Investors on the
same platform as well as facilitate the investors to identify the
investment opportunities. It has a mandate to cover two broad areas,
namely, 'Investment Facilitation' and 'Knowledge Networking'. The
main objectives of the OIFC are to:-

 promote overseas Indian investment into India and facilitate

business partnership, by giving authentic and real time
information;
 establish and maintain a Diaspora Knowledge Network (DKN) by
creating a database of Overseas Indians, who would act as
knowledge Diaspora and whose knowledge resources could be
utilized by using ICT platform;
 function as a clearinghouse for all investment related
information, which would be done by processing information on a
real time basis through ICT platform;
 assist States in India to project investment opportunities to
overseas Indians in the infrastructure and social sectors;
 provide a host of advisory services to PIOs and NRIs, which
could include matters such as consular questions, stay in India,
investment and financial issues, etc.;

Provide a wide range of consultative, advisory and handholding

services to interested Overseas Indians, who want to invest in India in
broad sectors like capital market investment, manufacturing and
service sectors investment, taxation issue, real
 Case study: Improvement of Overseas Project

Overseas projects: ONGC plans exploration services subsidiary

To improve production efficiency

ONGC is considering floating an exploration service subsidiary for taking up overseas

projects for ONGC Videsh Ltd (OVL). The new company is likely to be run by ONGC's
existing manpower in exploration and production.

Apart from ensuring higher revenues for the group, the proposals - which will soon be
placed before the committee of executive directors of ONGC - is aimed at improving the
company's efficiency in exploration and production at home and also check flight of
human capital.

ONGC has roughly 6,000 experienced employees engaged in exploration, drilling,

production engineering and other related services.

OVL, which is pursuing an aggressive acquisition policy abroad and is operating in a

number of blocks and producing fields, often hires such services from other sources.

While ONGC's vast pool of human resource often earns admiration of rival companies
and is subjected to very high incidence of poaching, the company's productivity continues
to suffer.

"The same set of employees who drill four wells for ONGC in India are found drilling
four wells with the same rig while working for some other employer abroad

Tapping resources

To solve the problem, ONGC is now planning more gainful use of its employees' talents
in highly profitable overseas projects while at home it would rely more on outsourcing.

"The employees will have the opportunity of earning in dollars while being in the same
group.

"Apart from an increase in profitability owing to more productive use of its existing
human resources, the proposed move will make our E&P activity in India less costly,
more focused and accountable,".

According to him, the company plans to outsource a lion's share of exploration services
in India.