UPSC Prelims 2002·GS1·economy·economic sectors and development

With reference to the public Sector Undertaking in India, consider the following statements: 1. Minerals and Metals Trading Corporation of India Limited is the largest non-oil importer of the country. 2. Project and Equipment Corporation of India Limited is under the Ministry of Industry. 3. One of the objectives of Export Credit Guarantee Corporation of India Limited is to enforce quality control and compulsory pre-shipment inspection of various exportable commodities Which of these statements is/are correct?

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Last updated 23 May 2026, 3:31 pm IST
  1. A1 onlyCorrect
  2. B1 and 2
  3. C2 and 3
  4. D3 only

Explanation

The correct option is A because of the following reasons: Statement 1 is correct. Minerals and Metals Trading Corporation of India Limited, known as MMTC, is the largest non oil importer in India. It is a major player in the international trade of minerals, metals, and precious metals like gold and silver. Statement 2 is incorrect. Project and Equipment Corporation of India Limited, known as PEC Limited, is a Public Sector Undertaking under the Ministry of Commerce and Industry, specifically the Department of Commerce, not the Ministry of Industry. Statement 3 is incorrect. The Export Credit Guarantee Corporation of India Limited, known as ECGC, provides credit risk insurance and related services for exports. The function of enforcing quality control and compulsory pre shipment inspection belongs to the Export Inspection Council of India, not the ECGC.
economy: With reference to the public Sector Undertaking in India, consider the following statements: 1. Minerals and Metals Trad

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