What’s New with MSTC's E-Marketplace and Corporate Office?

New Delhi, July 9 (NationPress) The Union Minister for Steel and Heavy Industries, H.D. Kumaraswamy, marked the inauguration of the new corporate office of MSTC Ltd at Narojinagar, World Trade Centre, in the nation's capital on Wednesday. This event also celebrated the official launch of the Upkaran E-Portal, a significant advancement in MSTC's digital service offerings.

The newly introduced Upkaran E-Portal is envisioned as a digital marketplace fostering connections between industry and innovation, thereby aiding MSMEs and encouraging transparent, efficient trade in essential sectors.

As a crucial component of digital infrastructure, Upkaran will bolster trust, competitiveness, and extensive reach throughout the ecosystem.

This platform is tailored to provide an end-to-end digital solution for managing equipment and machinery inventories, as well as facilitating machinery purchases.

It allows various government departments, PSUs, and institutions to seamlessly list, transfer, or dispose of idle or surplus assets in a transparent manner. This initiative aims not only to optimize resource utilization across public entities but also to significantly enhance cost-efficiency and sustainability in government operations.

The establishment of the new office in Delhi's policy center grants MSTC closer access to inter-ministerial coordination and national stakeholders. This strategic positioning is anticipated to strengthen its involvement in resource management and procurement initiatives nationwide.

During the event, Union Minister Kumaraswamy emphasized MSTC's capability to serve as a benchmark for technology-driven public service.

"MSTC is more than just an institutional asset; it represents how technology and governance can converge to benefit the nation. The Ministry of Steel is dedicated to backing MSTC as it embraces greater responsibilities in India's developmental journey," he stated.

Established in 1964 as a scrap trading agency, MSTC has transformed into a Mini Ratna Central public sector enterprise and one of the country's most reliable digital auction platforms. With an ISO-certified infrastructure and over 400,000 auctions successfully completed, MSTC has become a vital player in public asset monetization, spectrum sales, and coal block auctions.

The evolution of MSTC aligns with the overarching vision of Prime Minister Narendra Modi, emphasizing technology, transparency, and efficiency in public service delivery. MSTC's role as a digital enabler reflects this governance model, promoting accountability and inclusiveness across sectors, as per an official statement.

As India progresses towards its aim of becoming a global economic powerhouse, MSTC's contribution to facilitating transparent, efficient, and secure economic exchanges will remain essential, the statement concluded.