Question

With reference to the Public Sector Undertakings in India, consider the following statements:

1. Minerals and Metals Trading Corporation of India Limited is the largest non-oil importer of the country

2. Project and Equipment Corporation of India Limited is under the Ministry of Industry

3. One of the objectives of Export Credit Guarantee Corporation of India Limited is to enforce quality control and compulsory pre-shipment inspection of various exportable commodities

Which of these statements is/are correct?

(a) 1 only (b) 1 and 2 (c) 2 and 3 (d) 3 only

Answer 1

(a) Minerals and Metals Trading Corporation Limited (MMTC) is one of the two biggest foreign exchange earner for India. It is a leading international trading company with a turnover of over 68,885 crore rupees in 2010–11. It is the largest international trading company of India and the first Public Sector Enterprise to be accorded the status of FIVE STAR EXPORT HOUSE by Govt. of India for long standing contribution to exports. MMTC is the largest non-oil importer in India.