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GeM portal has done Rs 40,000 cr transactions
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SME Times News Bureau | 10 Feb, 2020
The government electronic marketplace GeM has reported transactions
worth Rs 40,000 crore, Expenditure Secretary T.V. Somanathan said on
Monday.
GeM is a government e-market place hosted by the Commerce Ministry where common user goods and services can be procured.
The government has taken a number of steps for transparency in public procurement activity.
Procurement
of all goods and services is done by the government Ministries and
Departments, Public Sector Undertakings and other apex autonomous bodies
of the Centre only through GeM.
As per Ministry data, currently, 3.24 lakh vendors are registered on this platform.
"Public
procurement worth Rs 40,000 crore has taken place through the
government's online marketplace GeM. The efficiency of procurement makes
a big difference to the fiscal discipline of government. GeM, has
electronic bids of 1,00,000 tenders - including state government
tenders. And we have (Rs) 18-19 lakh crore per annum, of tendering on
Central Public Procurement Portal (CPPP)," Somanathan said at the Global
Procurement Summit 2020.
Finance Minister Nirmala Sitharaman,
in her 2020-21 Budget speech, said the government was looking to
increase the turnover of the GeM portal to Rs 3 lakh crore.
Somanathan
said global government procurement economy is estimated at $10 trillion
in value; and in most countries, including India, it constitutes more
than one-fifth of the GDP taking into account Central, state government
and PSUs.
He however, added Public Private Partnerships (PPP) has not taken off in a big way in India.
"One
of the problems we contin ue to face in many of the PPPs is how do we
deal with unanticipated risks and changes that are not specifically
provided for in contracts and so far India has not been successful in
using arbitration as a means of quick resoluti on of contract disputes."
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