A new foolproof E-auction system for tea auction centres is expected to be in place by next September across India, a top Tea Board executive said.

The Board has appointed NSE.IT to provide software, customization, project management and implementation of the electronic auction system, Board chairman Basudeb Banerjee told reporters here.

Banerjee, who was recently in the city, said that NSE.IT would begin the process by assessing various pros and cons by visiting all six auction centres in India and interacting with the committees appointed by the Centres for two days.

Two persons from each centre would be principal spokesmen. For the first time, one person from the broker community is on the committee to provide their suggestions, he said.

The exercise was expected to be over by November this year, after which the company would engage in developing the prototype and software, with proper technical assistance from the Board and an outside agency. This would take at least 250 days, he said.

Stating that Sri Lanka and Mombasa would soon switch over to the E-Auction system, Banerjee said India also has to catch up. The system would be simultaneously in place in all auction Centres and become a reality at least by next September.

The Board would assist the Centres for three years and afterwards it would be their responsibility to take care of the system, Banerjee added.

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Posted: 09|30|07 at 9:54 am. Filed under: Auction News.