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Saturday, March 6, 2000
Extract
....It is a massive stockyard, easily one of the biggest in the country. You can find industrial products of every description in the place. In one corner, piles upon piles of nuts and bolts. A little further ahead, several tonnes of hydraulic equipment, sorted out and arranged in neat rows. Go slightly ahead, and you might even find a complete manufacturing plant waiting for buyers. There are over 1,500 items -- worth a whopping Rs.500 crores -- in the stockyard at the moment. The stockyard doesn't occupy much physical space -- it's all housed in the small 64 sq ft room occupied by C.E. Karunakaran near Mylapore in Chennai. To visit the stockyard, you don't even need to actually go to his office. You can visit it through the Net by clicking on www.auctionindia.com.
Karunakaran, former managing director of the Industrial and Technical Consultancy Organisation of Tamil Nadu (ITCOT), is one of the half a dozen pioneers who have jumped into the great B2B (business-to-business) portal race which is hotting up by the day.
AuctionIndia was promoted jointly by Cybernet Software, a software services firm based in the US, and C.E. Karunakaran. While the site also deals in general product auctions, Karunakaran says that its major strength is in "investment asset recovery" -- helping clients hawk big-ticket assets lying idle, like entire plants. So far, Karunakaran has spent slightly over Rs.50 lakhs in building up his site and has already persuaded some fairly big companies to adopt it for selling goods. His clients include Ashok Leyland, Blue Star, India Pistons, TI Diamond Chain and BHEL. At the moment, AuctionIndia has items like general engineering and hydraulic machinery, cam grinders, lathes, and drills listed for auction. This year, AuctionIndia plans to spend around Rs.12 crores to beef up content and get more clients.... |
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