INITIATIVES UNDERTAKEN IN 2013
One example of an innovative project we have done is for the India Tobacco Board. We have implemented an auctioning system at the ground level, which is a platform that brings buyers and sellers together and allows them to trade through an automated process. As a part of this new system, the buyer has a handheld device and the bidding can take place only through this device. So, there is no more shouting out prices in the open like the earlier days. The platform is owned by us and the customer pays us purely on the basis of the tobacco sold. This is a perfect example of an outcome-based pricing model. Apart from improving the efficiency of the auctioning system, it has also made a difference to the farmers as they are able to get a much better price.