Why three of India's iconic state trading firms risk being shut down

While MMTC is just about managing to stay afloat for now, STC and PEC have posted losses long and hard enough for the Centre to call for their total shutdown

The Metals and Minerals Trading Corporation of India (MMTC) calls itself the country's largest public-sector trading body and one of the highest earners of foreign exchange, while the State Trading Corporation (STC) has defined independent India's export growth. Both central public sector enterprises (CPSEs) are also in danger of being shut down, along with the smaller PEC Limited.

Official figures place MMTC's turnover at Rs 12,500 crore and employee count at 950 as of March 2019. STC, on the other hand, employed early 600 people in 2018-19 and had a turnover of Rs 10,825 crore in 2017-18. But like other