MMTC to enrol MSME engineering exporters as vendors for global markets

New Delhi, Feb 18 (KNN) Metals and Minerals Trading Corporation (MMTC) of India is keen to enrol MSME engineering exporters of products such as auto components, plastic furniture and other equipment and parts as vendors for international markets.

The country’s largest trading company is procuring engineering goods like flexible wires, material handling, auto components, switch gears, transformers, precision machined components, compressor parts, drilling mining equipment, electrical sub-assemblies, sheets, plates, coils, tubes, bars, all type of fittings, sections in ferrous and non-ferrous metal for industrial use and raw materials for foundries, plastic moulded furniture, boats, FRP components, conveyor belts and rollers.

In this context, MMTC has invited bids from MSME engineering exporters for export of these items.

MMTC is major global player in the minerals trade and is the single largest exporter of minerals from India. With its comprehensive infrastructural expertise to handle minerals, the company provides full logistic support from procurement, quality control to guaranteed timely deliveries of minerals from different ports, through a wide network of regional and port offices in the country, as well as international subsidiary.

One of its objectives is to provide support services to the medium and small scale sectors.

The move is certainly in keeping with the public procurement policy which stipulates that every central ministry, department or PSU shall procure a minimum of 20 per cent of their total annual purchases of products of services produced or rendered by MSEs.

Finance Minister yesterday presented Interim Union Budget 2014-15 in which he proposed to make an initial contribution of Rs 100 crore to create the 'India Inclusive Innovation Fund' to promote grassroots innovations and support enterprises in the MSME sector.