e-auction for tea

Sri Lanka and Kenya have expressed interest in joining hands with India on an e-auction for tea, it was reported yesterday.

India’s Union Minister of State for Commerce, Jairam Ramesh, who was here on the occasion, said that while there was some apprehension on this amid buyers, brokers and the industry, the government would not bow to any pressure to abort this move.

Sri Lanka and Kenya, which sell large volumes through auction, have expressed interest in collaborating with India on this, he said.

The Minister said that no regulatory measures would be initiated to make e-auction mandatory and the system should, on its own, be able to attract customers. He allayed fears that it would lead to job loss saying that it would change the nature of jobs but would not throw people out of employment. The Hindu