STC meaning in Business ?

Answer:

What is State Trading Corporation of India mean?

MMTC Ltd., Metals and Minerals Trading Corporation of India, is one of the two highest earners of foreign exchange for India and India's largest public sector trading body. Not only handling the export and import of primary products such as coal, iron ore, agro and industrial products, MMTC also exports and imports important commodities such as ferrous and nonferrous metals for industry, and agricultural fertilizers. MMTC's diverse trade activities cover Third Country Trade, Joint Ventures and Link Deals and all modern forms of international trading. The company has a vast international trade network, spanning almost in all countries in Asia, Europe, Africa, Oceania, America and also includes a wholly owned international subsidiary in Singapore, MTPL. It is one of the Miniratnas companies.

MMTC is one of the two highest foreign exchange earner for India (after petroleum refining companies). It is the largest international trading company of India and the first public sector enterprise to be accorded the status of Five Star Export Houses by Government of India for long standing contribution to exports

Being the largest player in bullion trade, including retailing, MMTC's share was 146 tonnes of gold out of the total import of 600 tonnes of the precious metal in 2008–09.

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