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    STC

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    KANMANI K K 17CORE027
    The State Trading Corporation (STC) of India was established in 1956 as a state-owned organization to stimulate foreign trade by expanding exports and facilitating imports. Its objectives include enlarging exports, facilitating trade in specific commodities, augmenting state revenue, promoting greater economic equality, and regulating trade with communist countries. STC functions include improving domestic and international trade, exploring new export markets, stabilizing prices, and assisting in trade disputes. While STC once played a major role in India's import/export market, its role has declined as the market has liberalized.

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    STC

    Uploaded by

    KANMANI K K 17CORE027
    177 views13 pages
    The State Trading Corporation (STC) of India was established in 1956 as a state-owned organization to stimulate foreign trade by expanding exports and facilitating imports. Its objectives include enlarging exports, facilitating trade in specific commodities, augmenting state revenue, promoting greater economic equality, and regulating trade with communist countries. STC functions include improving domestic and international trade, exploring new export markets, stabilizing prices, and assisting in trade disputes. While STC once played a major role in India's import/export market, its role has declined as the market has liberalized.

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    The State Trading Corporation (STC) of India was established in 1956 as a state-owned organization to stimulate foreign trade by expanding exports and facilitating imports. Its objectives include enlarging exports, facilitating trade in specific commodities, augmenting state revenue, promoting greater economic equality, and regulating trade with communist countries. STC functions include improving domestic and international trade, exploring new export markets, stabilizing prices, and assisting in trade disputes. While STC once played a major role in India's import/export market, its role has declined as the market has liberalized.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    177 views13 pages

    STC

    Uploaded by

    KANMANI K K 17CORE027
    The State Trading Corporation (STC) of India was established in 1956 as a state-owned organization to stimulate foreign trade by expanding exports and facilitating imports. Its objectives include enlarging exports, facilitating trade in specific commodities, augmenting state revenue, promoting greater economic equality, and regulating trade with communist countries. STC functions include improving domestic and international trade, exploring new export markets, stabilizing prices, and assisting in trade disputes. While STC once played a major role in India's import/export market, its role has declined as the market has liberalized.

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    © All Rights Reserved
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    of 13

    STATE TRADING

    CORPORATION
    In India, the State Trading
    Corporation (STC) was set up in
    May 1956 as an entirely state-
    owned organisation. Its basic aim
    is to stimulate India's foreign trade,
    by enlarging the scope of Indian
    exports and facilitating essential
    imports.
    OBJECTIVES
    To enlarge exports,
    To facilitate trade (imports) in
    specific commodities,
    To augment the revenue of the
    State
    To bring about greater economic
    equality,
    To regulate trade (imports and
    exports) in certain commodities, and
    To regulate and overcome difficulties
    of trade with communist countries.
    FUNCTIONS
    • 1. Improving overall trade, domestic as well as
    international.
    • 2. Augmenting the national resources of the
    country for promoting trade.
    • 3. Undertaking of trading generally with State
    trading countries and private foreign traders
    too.
    • 4. Exploring of new markets for traditional
    export items and developing exports of new
    items.
    • 5. Stabilisation of price and traditional
    distribution by importing at the Government's
    instance any commodity in short supply.
    • 6. Handling of such internal trade as promotes
    foreign trade.
    • 7. Ensuring the quantity and quality of various
    commodities to foreign buyers at competitive
    rates.
    • 8. Assisting in the settlement of trade disputes
    between exporters and importers in different
    countries wherever, India is directly concerned.
    • 9. Implementation of all trade agreements
    entered into by the Government of India with
    other nations.
    In the present scenario everything has become
    open i.e. whoever wants to import can import
    and whoever wants to export can export. As
    said before everything was in the hands of
    Government, but today, there is no doubt that
    the role of STC has declined as STC has
    become one of the players in export-import
    field.
    In the 1950’s and the 1960’s there were many
    restrictions on the export-import of items, i.e.
    they were canalized through STC. If someone
    wants to export or import any product or
    commodity then the person had to take a
    license or certificate from the STC, but today
    many of the restrictions have been dissolved.
    Currently the import of edible and coconut oil
    is canalized through STC.
    Also, the Government of India has
    communicated to STC that there would be
    shortage of wheat in this year, so STC is
    purchasing it in bulk and storing it to be
    released during crisis time. To meet with this
    shortage STC has decided to import 5 lakhs
    tones of wheat. For this purpose they have
    invited tenders from various countries.
    STC is also financing many companies i.e. helping them
    and borrowing loans at
    low interests, opening the L/Cs for import transactions
     etc. For this purpose the STC charges a particular
    amount of fees depending on the product value, i.e. it
    may be 1%,1.5% of the L/C value. Some of companies
    are ISPATH, ESSAR Steel, ESSAR Oil
    etc.STC also has a tie-
    up for supply of pharmaceuticals (medical, health care
    products) to Bangladesh, Turkmenistan, Sri Lanka etc.
    OTHER STCs IN INDIA
    • The Handicrafts and Handloom Export
    Corporation of India (HHEC), a wholly owned
    subsidiary of STC.

    • The Minerals and Metals Trading Corporation of


    India Ltd. (MMTC).

    • The Projects and Equipment Corporation (PEC) of


    India Ltd., a wholly owned subsidiary of STC.
    • The Cashew Corporation of India Ltd. (CCI) a
    wholly owned subsidiary of STC.

    • Central Cottage Industries Corporation (CCIC),


    a subsidiary of STC.

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