MSTC launches e-marketplace with new corporate office in Delhi

New Delhi, July 9 (IANS) Union Minister for Steel and Heavy Industries H.D. Kumaraswamy inaugurated the new corporate office of MSTC Ltd at Narojinagar, World Trade Centre, in the national capital on Wednesday, along with the official launch of the Upkaran E-Portal, a major step in MSTC's digital service offerings.

The newly-launched Upkaran E-Portal is a digital marketplace that will serve as a bridge between industry and innovation, supporting MSMEs and promoting transparent, efficient trade in vital sectors.

As a key piece of digital infrastructure, Upkaran will enhance trust, competitiveness, and nationwide reach across the ecosystem.

It is designed as an end-to-end digital platform for equipment, machinery inventory management and purchase of machinery as well.

It enables various government departments, PSUs, and institutions to list, transfer, or dispose of idle or surplus assets in a seamless and transparent manner. This initiative will not only optimise resource utilisation across public bodies but also contribute significantly to cost-efficiency and sustainability in government operations.

The establishment of the new office in Delhi's policy hub provides MSTC with closer access to inter-ministerial coordination and national stakeholders. This strategic proximity is expected to strengthen its participation in platforms for resource management and procurement across the country.

Speaking at the event, Union Minister Kumaraswamy highlighted MSTC's potential to serve as a model for technology-driven public service.

"MSTC is more than just an institutional asset; it's a symbol of how technology and governance can come together to serve the nation. The Ministry of Steel is committed to supporting MSTC as it takes on greater responsibilities in India’s development journey," he said.

Founded in 1964 as a scrap trading agency, MSTC has evolved into a Mini Ratna Central public sector enterprise and one of the country's most trusted digital auction platforms. With an ISO-certified infrastructure and over 4 lakh auctions completed, MSTC has emerged as a pivotal player in public asset monetisation, spectrum sales, and coal block auctions.

The transformation of MSTC aligns with the broader vision of Prime Minister Narendra Modi, which has emphasised technology, transparency, and efficiency in public service delivery. MSTC's role as a digital enabler reflects this governance model, delivering accountability and inclusiveness across sectors, according to an official statement.

As India advances toward its goals of becoming a global economic powerhouse, MSTC's role in facilitating transparent, efficient, and secure economic exchanges will remain vital, the statement added.

--IANS

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