Indian STC Interested in Long-Term Contracts for Russian Goods, Envoy Says

Russia's trade representative in India says that the Indian State Trading Corporation is interested in long-term supplies of Russian goods.

NEW DELHI, January 23 (Sputnik) – The Indian State Trading Corporation (STC) is interested in long-term supplies of Russian goods, Yaroslav Tarasyuk, Russia's trade representative in India told RIA Novosti Friday.

"We had a meeting with representatives of [the Indian] State Trading Corporation recently, which is also exploring the possibility of long-term contracts for the supply of goods from Russia," the envoy said.

In December 2014, Russian oil giant Rosneft and India's largest oil manufacturing company Essar signed a 10-year contract to deliver 10 million tons of oil annually to India.

The Indian-based STC has been engaged in international trade for over 50 years. Until the 1990s, the company mainly traded agricultural commodities, such as rice, wheat, castor oil and sugar. In recent years, the company has expanded its area of interest. Currently, the STC also trades hydrocarbons, fertilizers, petrochemicals and metals.