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The abbreviation or full form of MMTC is Metals and Minerals Trading Corporation
MMTC Full Form, Abbreviation & Meaning
MMTC is a corporation of India, which is one of the largest public sector trading body and one of the two highest earners of foreign exchange for India. MMTC deals with the export of primary products such as coal, iron ore, and manufactured agro and industrial products and imports important commodities such as ferrous and non-ferrous metals for industry and agricultural fertilizers. MMTC has a vast international trade network that covers almost all the countries in Asia, Europe, Africa, Oceania, America and also includes a wholly-owned international subsidiary in Singapore.
MMTC acquires the status of Five Star Export Houses by the Government of India for its long-standing contribution to exports. MMTC is the largest player of billion trade and its share includes 146 tonnes of gold out of the total import of 600 tonnes of the precious metal in the financial year 2008-09
The main objective of MMTC is the export of mineral ores and import of essential metals. Due to the continuous contribution of MMTC towards the trading sector, it is known as Asia’s biggest gold and silver importer.
Awards and Recognitions:
- MMTC was honoured with Niryat Shree Bronze Trophy for the year 2005-06 presented by the President of India, in January 2009 in the Highest Foreign Exchange Earner category by Federation of Indian Exporters Organisation (FIEO).
- In December 2006, the company was ranked in the trading sector by the Indian-English daily newspaper Business Standard which is a publication of the Business Standard Ltd as the BS 1000 ‘India’s Corporate Giants’.
- MMTC was noted as a top company in the trading sector for the D&B coveted American Express Corporate Award 2006.
- MMTC won a gold trophy for being the Top Exporter for the year 2006-07 in Merchant Exporter category by Engineering Export Promotion Council of India (EEPC).
- MMTC won CAPEXIL highest export award for highest export of minerals in the year 2006-07.
- MMTC was recognized as the top Indian Company in the Trading Sector by Dun & Bradstreet in their rankings ‘India’s Top 500 companies 2008’. In the same publication, it was ranked 13th based on the total income for the year 2007-08.
- Ranked as the Highest Wealth Creator PSU by Dalal Street Journal.