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STC is a public sector undertaking that was set up on 18 May 1956. The STC full form is State Trading Corporation. This was developed to undertake trade with the East European countries. The prime role of STC is to promote and manage foreign trade and increase exports from the country. This would ultimately help in improving the economy of the country and bring financial stability. STC operates in various sectors such as energy, agriculture, minerals, and many more. The corporate office of STC is located in New Delhi.
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Functions of STC
The State Trading Corporation of India operates under the authority of the Ministry of Commerce and Industry. It has been involved in international trade for more than 6 decades. Initially, it only deals in agro products such as (oils, pulses, wheat, sugar, rice, etc). Owing to the changes in the trade sector it has widened its areas and deals in diverse products over the last two decades. Thus, it also trades in bullion, metals, ores, hydrocarbons, minerals, fertilizers, as well as petrochemicals.
The following list represents the key features of STC:
- Import and export
- Market regulation
- Price stabilization
- Promotion of domestic products
- Foreign exchange management
- Food security
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Other Full forms of STC
Mentioned below are some of the other full forms of STC:
- Supplemental Type Certificate
- Standard Test Condition
- Saudi Telecom Company
- Senior Teacher Certificate
- Sound Transmission Class
- Short Time Compensation
- Subject to Contract
- Sell To Close
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