SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 22 Nov, 2022  

GeM.9.Thmb.jpg GeM: Transforming public procurement for MSMEs

GeM.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
Bikky Khosla | 22 Nov, 2022

The Prime Minister last week said that the Government eMarketplace (GeM) - India’s public procurement marketplace for MSMEs - has helped Indian small businesses find big customers: government departments, central public sector enterprises, etc. At the same time, he added, the portal has enhanced transparency and reduced scope for corruption in the public procurement process.

As per latest statistics, order volume of goods and services by central government ministries and departments has now crossed whopping 12 million or 1.2 crores on GeM. The portal achieved annual procurement of Rs. 1 lakh crore in Financial Year 2021-22. It is also notable that 57% of order value is coming from the MSME sector. No doubt, this portal has transformed the public procurement system for MSMEs.

The Prime Minister rightly pointed out, “Have you heard of a government running a successful e-commerce platform? It has happened in India.” GeM was launched in 2016 and since then the portal has steadily been growing, with about 300 service categories and over 10000+ product categories available on it. Since its inception, GeM has facilitated over 1 Crore transactions valued at over Rs 3.02 Lakh Crore.

Recently, the Union Commerce Minister, while reviewing the progress of GeM, said that the portal has planned significant technical upgrades, including use of AI, to improve user experience on the platform. Such steps are encouraging and experts view that GeM can play a significant role in promoting social inclusiveness by strengthening the Indian micro and small enterprises sector.

I invite your opinions.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter