Date:31/03/2006 URL: http://www.thehindubusinessline.com/2006/03/31/stories/2006033103190300.htm

Back STC sees 33 pc rise in turnover

Our Bureau

Mumbai , March 30

State Trading Corporation of India Ltd (STC) has signed a memorandum of understanding with the Ministry of Commerce for 2006-07.

Dr Arvind Pandalai, STC Chairman and Managing Director, and Mr S.N. Menon, Commerce Secretary, on behalf of the Department of Commerce, signed the MoU.

For the year 2006-07, STC has projected growth targets in all the three segments of trade - exports, imports and domestic marketing according to Dr Pandalai.

STC plans to achieve Rs 10,000-crore turnover during 2006-07. 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.