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Welcome, Saturday, Jan 23, 2021

Present Activities

As a result of liberalisation of foreign trade by the Govt. of India since mid-1991, all export and import items earlier canalised through STC were decanalised. This adversely affected the turnover and profitability of the Corporation requiring reorientation of the entire business profile of the Corporation.

Presently, there is no item export or import of which is canalized exclusively through STC. The present business handled by STC can broadly be classified into three categories viz. (i) import of items like edible oils, pulses and fertilizers on behalf of the Govt. of India, (ii) business carried out on behalf of business associates on back-to-back basis and (iii) direct buying and selling in items like tea, soyabean seed, chana, etc.

Imports on behalf of the Govt. are arranged by STC through floating of global tender and imported quantities are either handed over to the agency (such as FCI, Department of Fertilizers) nominated by the Govt. or sold in the domestic market through tenders. In the case of back-to-back business, the terms of trade are finalized in consultation with the business associate and STC charges a fixed trade margin in the range of 1 to 1.5%.

Thus, today STC undertakes exports/imports of a diverse range of items to/from countries all over the world. Its export basket includes wheat, rice, tea, coffee, cashew, extractions, castor oil/seed, sugar, spices, jute goods, iron ore, chemicals, pharmaceuticals, light engineering goods, construction materials, consumer goods, processed foods, textiles, garments, jewellery, leatherware, etc. The Corporation also monitors counter trade commitments against Government purchases.

Major items of import by STC include gold, silver, edible oils, sugar, pulses, fertilizers, metals, minerals, ores, hydro-carbons, petro-chemicals and raw materials for the Indian industry. It also undertakes import of technical and scientific equipment on behalf of Forensic Science Laboratories, State Police and Intelligence Departments and Paramilitary Organisations, etc.