Five firms in race for tea auction software

The provision of software for electronic tea auction has evoked interest from different quarters, with companies, commodity exchanges and IT solutions providers making a beeline for the project.

Sources close to the development said there were 12 applicants, of which around five "� including Ncdex, NSE.IT, metaljunction, MMTC "� had been shortlisted.

The shortlisted parties will have to make presentations to a committee comprising chairman of the Indian Tea Association, regional director of the National University of Juridical Sciences and a representative of the Tea Board of India by December 20.

They would then be selected on the basis of technical and financial bids. Sources added that the pitch was for the software designed by IBM and Accenture.

The selection will be completed by January 10. After the selection process, there would be consultations with stakeholders. The software is likely to be operational over the next 3 to 6 months.

In the interim period, auctions will have to be conducted physically. Of the six auction centres in the country, only Coonoor has a thriving electronic auction process.

Sources said about 70 per cent of the auction in Coonoor is routed electronically.