MMTC is planning to import corn at lower taxes for local consumers such as starch makers and poultry farmers. Imports would be organised after issuance of notification by the government of India and MMTC obtaining necessary licence.
India imposes 60 percent tax on overseas buying of corn but under the tariff rate quota, it can allow imports at lower or zero duty.
MMTC is engaged in the business of metals, fertilizers, agro products, precious metal, mineral & ores, hydro - carbon. It’s the largest non-oil importer in India.
