Minerals and Metals Trading Corporation

The Minerals and Metals Trading Corporation of India Limited (MMTC), established in 1963, occupies a prominent position in India’s foreign trade. Export of iron, manganese and chrome ores, and among finished fertilizers, only import of urea is canalised. It continues to be the largest non-oil importer of the country and has made considerable headway in increasing its imports. It has also emerged as the largest bullion trader in the sub-continent, importing and selling the largest quantity of gold and silver. The Mica Trading Corporation of India Limited (MITCO) was incorporated in 1973 as a wholly owned subsidiary of MMTC to look after the business of mica exclusively. Due to the steady decline in turnover, which had turned negative, BIFR ordered merger of MITCO with MMTC from 1 April 1995.

State Trading Corporation of India

State Trading Corporation of India Limited is a premier international trading company owned by the Government of India. Set up in 1956, it undertakes export, import and domestic trade in a number of items in competition with the private trade and industry. It also imports many mass consumption items entrusted to it by the Government of India in view of domestic shortages. Its turnover is estimated at Rs 2,050 crore in 1998-99 and net worth as on 31 March 1999 is Rs 449 crore.

Project and Equipment Corporation of India Limited

Project and Equipment Corporation of India Limited (PEC) is a public sector enterprise under the Ministry of Commerce. From being a canalising agency for the export of Railway Rolling Stock, PEC has established itself as a leading exporter of semi-turnkey projects and engineering equipment. More recently, it has also diversified itself into other trading activities such as third-country trade, commodity exports and imports of raw material to support export activities of associate manufacturers.

Export Credit Guarantee Corporation Limited

Export Credit Guarantee Corporation Limited was originally set up as Export Risk Insurance Corporation in July 1957. It was transformed into Export Credit and Guarantee Limited in 1964. In December 1983, it was renamed as Export Credit Guarantee Corporation of India Limited. The primary objective of the Corporation is to promote exports from India by providing export credit insurances and guarantee facilities to the Indian exporters and commercial banks.

Spices Trading Corporation Limited

Spices Trading Corporation Limited, formerly known as Cardamom Trading Corporation Limited was incorporated under the Companies Act, 1956 in October 1982, but the actual trading activities commenced from September 1983. The main objectives of the Corporation are: to carry on domestic and international trade in spices and its products; to process and cure spices and manufacture its products; to support, project, maintain, increase and promote the production of its products and to promote research and development of spices and its products.

AUTONOMOUS BODIES

There are a number of autonomous bodies under the Ministry of Commerce connected with the development of exports and export promotion activities. There are five statutory commodity boards responsible for the production, development and export of tea, coffee, rubber, spices and tobacco.

Export Inspection Council

Export Inspection Council, Delhi a statutory body is responsible for enforcement of quality control and compulsory pre-shipment inspection of various exportable commodities.

Indian Institute of Foreign Trade

Indian Institute of Foreign Trade, New Delhi, a registered body, is Commerce engaged in training of personnel in modern techniques of international trade; organisation of research in problems of foreign trade; organisation of marketing research, area surveys, commodity surveys, and dissemination of information arising from its activities relating to research and market studies.

Indian Institute of Packaging

Indian Institute of Packaging, Mumbai, a registered body set up on 14 May 1966, undertakes research on raw materials for packaging industries, organises training programmes on packaging technologies and stimulates consciousness on the need for good packing, etc.

Export promotion councils

There are at present 20 export promotion councils, out of which 11 are under the Ministry of Commerce. They are non-profit organisations registered under the Companies Act/Society Registration Act. They promote and develop the exports of the country. Each council is responsible for the promotion of a particular group of products, projects and services. Agricultural and Processed Food Products Export Development Authority (APEDA), which came into existence in 1986, acts as focal point for agricultural exports and concentrates on marketing of processed foods in value-added form. It also introduces effective quality-control measures. Marine Product Export Development Authority, Cochin, a statutory body set up in August 1972, is responsible for the development of marine products industry with special reference to exports.

Federation of India Export Organisation

Federation of India Export Organisation, New Delhi is an apex body of various export promotion organisations and institutions. It functions as primary servicing agency to provide integrated assistance to the Government recognised export houses and as a central coordinating agency in respect of export promotional efforts in the field of consultancy services in the country.

Indian Councils of Arbitration

Indian Councils of Arbitration, New Delhi set up under the Societies Registration Act, promotes arbitration as a means of settling commercial disputes and popularising arbitration among traders, particularly those engaged in the international trade.

India Trade Promotion Organisation

Trade Development Authority (TDA) has been merged with the Trade Fair Authority of India (TFAI) to form a new organisation under the name of India Trade Promotion Organisation (ITPO) in January 1992. The main objectives of the Organisation are to develop and promote exports, imports and upgradation of technology through the medium of fairs to be held in India and abroad, to undertake publicity through the print and electronic media, to assist Indian companies in meets, contact promotion programmes and integrated marketing programmes for specific products in specific markets.

Indian Trade Portal

Indian trade portal (www.indiantradeportal.in) was launched on 8 December 2014. This portal provides vital information to Indian industry on forty-two export markets and also a mechanism to take advantage of the increased market access provided through various regional and bilateral free trade agreements (FTA) and comprehensive economic cooperation/partnership agreements (CECA/CEPA). The information is provided in a user-friendly manner in four easy steps for exporters and importers to access the portal, which will contribute to ease of doing business for trade and industry. This portal makes available important data like (i) most favoured nation (MFN) tariff, (ii) preferential tariff, (iii) Rules of Origin (RoO), and (iv) non-tariff measures (SPS/TBT) for use of exporters and importers at one place, in respect of countries with which we have FTAs. Consequently it facilitates India's exports and will also help exporters to utilize the FTAs and access the preferential tariffs available to them in various countries to capture export opportunities.