SME Times News Bureau | 20 Apr, 2019
More than 40
percent transactions by volume were done with Micro, Small and Medium
Enterprises (MSMEs) registered on Government e Marketplace (GeM) in FY 2018-19.
a recent official release by the Ministry of Commerce, 42% of transactions by
volume are done with MSMEs registered on GeM in the financial year 2018-19.
witnessed a four-fold increase in total value of transactions on the portal.
indicate MSMEs registered on the national public procurement portal also
witnessed higher transactions in the previous fiscal.
More than 17 lakh transactions took place
on the platform during the year, it said.
"The year witnessed a four-fold increase in total value
of transactions on the portal and doubling of number of sellers in the
marketplace," a Commerce Ministry statement said.
The GeM is a dedicated e-market for different goods and
services procured by government organisations, departments and public sector
The platform had over 8.8 lakh products available through a
network of over 2 lakh sellers and service providers. 24 states and union
territories have signed a formal aggreement with GeM to adopt it as the core
procurement portal in their respective territories.
Around 42 per cent of the total volume of transactions were
done with micro, small and medium enterprises (MSMEs) registered on the platform
and average savings of more than 25 per cent was achieved across transactions,
the statement said.
The average rejection rate of supplies remained below one per
cent during fiscal 2018-19, it added.