MSTC Limited has been nominated by the Director General of Foreign Trade, Government of India, as the exclusive consultancy and service agency to conduct the e-auction of Gold Tariff Rate Quota (TRQ). This role highlights MSTC’s position in online auction management for critical commodity imports.
MSTC Limited, a Government of India enterprise, has been nominated as the sole agency to conduct the e-auction for the Gold Tariff Rate Quota (TRQ) on a single-source basis. The nomination comes under Rule 194 of the General Financial Rules, 2017, as part of the government's efforts to ensure transparency and efficiency in allocating the TRQ for import of gold bullions and other commodities.
Key highlights:
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MSTC will serve as the online platform managing the allocation of TRQ for gold imports, offering a competitive and transparent e-auction process.
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The consultancy role awarded by the Director General of Foreign Trade underscores MSTC’s significant expertise in conducting e-auctions across various sectors.
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MSTC will generate revenue primarily through transaction fees paid by bidders, dependent on the number and volume of auctions conducted.
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The contract remains valid until terminated by either party, providing a stable framework for ongoing e-auction services.
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The initiative aligns with broader government policy to streamline import quota management and promote digital auction mechanisms.
This development reinforces MSTC’s strategic role in digitalizing auction procedures and enhancing operational transparency in India's key import sectors.
Sources: Reuters, MSTC Limited filings, NSE India