The State Trading Corporation of India Ltd is an Indian government-owned international trading company established in 1956, responsible for managing import and export operations. It functions as an independent entity under the Companies Act, 1956, and operates under the administrative jurisdiction of the Ministry of Commerce & Industry.
History
In 1956, the government established the State Trading Corporation of India to engage in trade with East European countries.[1] In 1971, STC formed a subsidiary known as PEC India (formerly Project and Equipment Corporation of India Ltd.) to oversee the export of railway and engineering equipment, which commenced operations on October 1, 1963.[2] As STC expanded, it recognized the importance of mineral and metal exports in India's Five Year Plans. Consequently, the government decided to separate STC and establish a dedicated corporation focused solely on mineral and metal trade. In 1997, PEC became an independent entity.[3]
STC diversified its trading portfolio, including the export of various products such as agricultural commodities (e.g., wheat and rice) and essential goods (e.g., sugar and pulses).