Our Bureau

New Delhi, March 24

The State Trading Corporation (STC) has committed to achieving turnover of Rs 10,000 crore for the next fiscal, envisaging a growth of 33 per cent over the current fiscal.

This is the high point of the MoU the company has inked with the Department of Commerce.

The Commerce Secretary, Mr S.M. Menon, and Dr Arvaind Pandalai, Chairman and Managing Director of STC, signed the MoU.

While exports have been projected to grow by 25 per cent, imports and domestic sales are slated to register growth of 35 per cent and 25 per cent respectively next year.With a view to achieving the stated projections, the corporation has diversified into areas of business such as supply of indigenously manufactured bullet-proof jackets, bomb blankets to State Police Departments and paramilitary forces, mining operations, imports of almonds, thermal coal and communication equipment, and domestic supply of various raw materials such as iron ore, steel, coke, and chemicals, a company release said.

(This article was published in the Business Line print edition dated March 25, 2006)
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