MMTC Ltd., Metals and Minerals Trading Corporation of India, is one of the two biggest earners of foreign exchange for India and India’s largest public sector trading body. Not only managing the export of primary products such as coal, iron ore, and manufactured agro and industrial products, MMTC also imports primary commodities such as ferrous and nonferrous metals for industry, and agricultural fertilizers. MMTC’s diverse trade activities include Third Country Trade, Joint Ventures and Link Deals and all modern forms of international trading. The Company has a massive international trade network, spanning almost in all countries in Asia, Europe, Africa, Oceania, America and also covers a wholly owned international subsidiary in Singapore, MTPL. It is one of the Miniratnas companies.
MMTC is one of the two biggest foreign exchange earners 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 biggest 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.
As the massive trading company of India and a major trading company of Asia, MMTC aims at enhancing its position further by achieving sustainable and viable growth rate by excellence in all its activities, generating optimum profits by the total satisfaction of shareholders, customers, suppliers, employees, and society.
- To be a leading International Trading House in India managing in the competitive global trading environment, with focus on “bulk” as a core competency and to improve returns on capital employed.
- To retain the position of the single biggest trader in the country for product lines like minerals, metals and precious metals.
- To encourage the development of trade-related infrastructure.
- To grant support services to the medium and small scale sectors.
- To render high quality of work to all categories of customers with professionalism and efficiency.
- To streamline system within the company for settlement of commercial issues.
- To enhance employee skills for achieving higher productivity.
MMTC Limited is one of India’s Premier bullion trader, handled more than 1,74,000 Kgs of Gold & 1165.38 MTs of Silver during 2011-12. The Precious Metals Division has regularly contributed significant proportion of the total turnover of the Company.
MMTC is an authorized agent of the Government of India for import of gold, silver, platinum, palladium, rough diamonds, emeralds, rubies, and other semi-precious stones and supplies these items to jewelers in India for domestic sales and exports. MMTC is the custodian for import & export of Precious cargo at SEEPZ, SEZ Mumbai.
MMTC works in-house assaying and hallmarking unit at New Delhi, JhandewalanJewellery Complex for testing purity of gold/silver and gold/silver articles.
MMTC has a medallion unit in New Delhi since 1996 for manufacturing its own brand of gold and silver medallions. Customized requirements for corporate/institutional orders for medallions are also serviced from here throughout the year.