The new and dynamic version of the Government e-Market (GeM) portal for public procurement is likely to be rolled out from January, a senior commerce ministry official said.
"Work is underway, we are hoping to roll out the new dynamic platform from January," the official added.
The current avatar came into being in August last year for online purchases of goods and services by all central government ministries and departments.
The online marketplace so far has been working on a pilot.
In the scaled-up version, the portal will have all the best international features such as catalogue management, product categorisation, contract management, data analytics, refund and rejection policy.
The new portal would give more choices to both buyers and sellers alike.
The makeover of the GeM portal assumes significance as public procurement of the central and state governments is to the tune of Rs 5 lakh crore annually.
So far 42,022 sellers are registered with the portal to sell 2,59,745 products.
Services, including those of tax, security and digitisation and scanning, are also available on the website.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.