mjunction Wins Tata Group Innovation Award

MUMBAI:
mjunction services limited won the Tata Innovista 2025 at a glittering Awards ceremony here on Monday. Tata Innovista is the Tata Group’s flagship platform to celebrate and recognise innovations within the Tata Group.

mjunction was adjudged the winner for its “world’s first broker-less, ex-factory tea e-auction platform” in the category of “Business Model Innovations”. mjunction MD & CEO Vinaya Varma received the award from Tata Group Chairman N Chandrasekaran.

mjunction emerged on top from among more than 17,000 entries, across more than 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,” Varma said after receiving the award.

This year, mjunction’s tea e-marketplace completed five years of operations. During this period, the e-marketplace has transformed the Indian tea supply chain through cutting-edge technology, transparent trading practices, and inclusive policies. In doing so, it has not only enhanced market access for producers and traders but has also laid the foundation for India’s expanding global tea footprint.

The Jorhat Tea Auction Centre (JTAC) was conceptualised with a vision to make tea auctions more accessible, efficient, and equitable – especially for small tea growers and MSMEs.

At its core, JTAC is a broker-less, fully digital auction platform that handles every stage of the transaction – right from arrival and quality assessment to sale, dispatch and payment. This direct interaction between buyers and sellers ensures greater price discovery, lower costs and faster cash cycles. JTAC’s auction cycle of just 14 days is the shortest in the country, enabling fresher teas to reach markets faster and promoting faster inventory rotation for producers.