MMTC turnover target fixed at Rs 68K cr

The government has fixed a turnover target of Rs 68,000 crore for the trading firm MMTC.

Written by Agencies | New Delhi | Published:May 21, 2012 5:55 pm

The government has fixed a turnover target of Rs 68,000 crore for the trading firm MMTC during the current financial year.

In 2011-12,the turnover of the state-run company stood at Rs 65,882 crore,while it was Rs 68,854 in 2010-11,Minister of State for Commerce and Industry Jyotiraditya Scindia said in a written reply to the Lok Sabha,while stating the FY’13 target.

He also said that the trading firm has proposed to set up new outlets at Puri,Delhi/NCR and Goa.

“At present,MMTC has 17 showrooms in different states mostly operated from office premises. MMTC has plans to open showrooms in all major cities in India,” he said.

In an another reply,the minister said that 2,38,944 applications have been pending at the examination stage for trade mark registration.

While 2,74,963 applications have been pending at objection stage,1,35,874 applications have been pending at the opposition stage.

“Trade Mark registrations is a quasi-judicial process and tends to the time consuming as it involves various steps,inter-alia,examination,publication and disposal of opposition. Sharp increase in the applications filed in the recent years and shortfall in manpower are the other reasons for delay,” he added.

For all the latest News Archive News, download Indian Express App

    Live Cricket Scores & Results
    Express Adda