Mumbai: Mjunction services limited has clinched top honours at the Tata Innovista 2025 Awards, the Tata Group’s premier platform for recognising innovation across its companies. The accolade was awarded in the “Business Model Innovations” category for mjunction’s pioneering “world’s first broker-less, ex-factory tea e-auction platform.”
The award was presented to mjunction MD & CEO Vinaya Varma by Tata Group Chairman N Chandrasekaran at a glittering ceremony in Mumbai. mjunction stood out among more than 17,000 entries from over 100 Tata companies.
“I am delighted to receive this award which recognises our commitment to innovation, efficiency and value-creation. This award reinforces my belief that innovation can truly transform traditional industries,” said Varma.
Marking five years of successful operations, mjunction’s tea e-marketplace has revolutionised India’s tea supply chain through cutting-edge technology, transparent trading, and inclusive policies. The platform has significantly improved market access for producers and traders, while bolstering India’s global tea presence.
Central to this transformation is the Jorhat Tea Auction Centre (JTAC), designed to empower small tea growers and MSMEs. JTAC operates as a fully digital, broker-less auction system, managing every stage from arrival and quality checks to sale, dispatch, and payment. This direct buyer-seller interaction fosters better price discovery, reduces costs, and accelerates cash cycles.
With an auction cycle of just 14 days—the shortest in India—JTAC ensures fresher teas reach markets swiftly, enhancing inventory turnover and producer profitability.
