GeM Transactions To Touch $100 Billion In 3 Years

Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, has launched the National Mission on Government eMarketplace (GeM) for increasing awareness and accelerating the use of (GeM). The Minister said that in the next 3 years transactions on GeM will reach USD 100 billion. He further stated that during this mission efforts will be made to bring more self-help groups, artisans and start-ups on this platform. The Central andState Governments along with Banks and PSUs willundertakethe national drive from6th September to 17th October 2018by organising workshops, roadshow,trainings, events and other information, education and communication activities, including buyer and seller registration.

Government eMarketplace is the national public procurement portal offering an online, end-to-end, solution for procurement of common use goods and services by government departments. GeMprovides an open, inclusive, transparent and efficient online marketplace, which provides huge savings to government.It is mandatory for central government departments to procure through GeM. 25 states and Union Territories have signed MoU with GeM to adopt it as the mandatory mode of procurement for their departments so far.

GeM deploys technology to completely automate procurement processes and systems, introducing greater accountability in public procurement across India. In two years of its operations, GeM has recorded more than 7.25 lakh transactions worth over Rs.11,250 crores and established itself as an open, transparent, efficient and inclusive platform providing huge savings to the government. The portal has nearly 27 thousand buyer organisations registered and about 1.37 lakh sellers and service providers offering more than 4.65 lakh products and services for online purchase and contributes to approximately 20-25% average overall savings to the Government.

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