by MMTC Limited, formerly known as Minerals and Metals Trading Corporation of India, is a public sector undertaking under the Ministry of Commerce and Industry, Government of India. It was established in 1963 with the objective of promoting India’s international trade in minerals and metals.
The history of MMTC can be traced back to the 1950s when India faced a shortage of essential minerals and metals due to its limited domestic production capacity. To meet the country’s requirements, the government of India established a special organization called the Metals and Minerals Trading Corporation of India (MMTCI) in 1956. MMTCI was later renamed as MMTC in 1963, and its mandate was expanded to include the trading of other commodities such as agricultural products, coal, and fertilizers.
Over the years, MMTC has played a significant role in promoting India’s international trade by facilitating the import and export of various goods and commodities. It has established a global presence with a network of offices in different countries and has partnered with various international agencies and organizations to promote India’s trade and commerce.
In recent years, MMTC has diversified its operations and expanded into new sectors such as renewable energy, agro-products, and textiles. It has also entered into strategic partnerships with various companies and organizations to enhance its capabilities in different sectors.
MMTC’s key activities in trade include:
- Import and Export of Minerals and Metals: MMTC is one of India’s largest importers and exporters of minerals and metals such as gold, silver, copper, zinc, and iron ore. It also trades in other commodities such as coal, fertilizers, and agricultural products.
- International Trading: MMTC engages in international trading by importing and exporting various goods and commodities. It also acts as a trading partner for various government agencies and undertakings.
- Consultancy and Training: MMTC provides consultancy and training services to Indian businesses to help them improve their export capabilities and comply with international trade regulations.
- Bullion and Jewellery: MMTC is also involved in the marketing and distribution of gold and silver bullion and jewellery.
Objectives
- To promote India’s international trade: MMTC’s primary objective is to promote India’s international trade by facilitating the import and export of various goods and commodities.
- To meet the country’s domestic requirements: MMTC aims to meet the country’s domestic requirements of essential goods and commodities by importing them from other countries.
- To provide a reliable and efficient trading platform: MMTC aims to provide a reliable and efficient trading platform for Indian businesses to engage in international trade.
- To diversify its operations: MMTC aims to diversify its operations and expand into new sectors such as renewable energy, agro-products, and textiles to enhance its capabilities in different sectors.
- To support government initiatives: MMTC supports various government initiatives related to trade and commerce and plays a crucial role in implementing them.
- To provide consultancy and training services: MMTC provides consultancy and training services to Indian businesses to help them improve their export capabilities and comply with international trade regulations.
