Government e-Marketplace (GeM)

Gross Merchandise Value (GMV) for the Government e-Marketplace reaches Rs. 1.5 lakh crores.
The government's dedication to "Minimum Government, Maximum Governance" has been effectively supported by GeM.

About GeM:

Government e-Marketplace (GeM) is a very audacious move by the government to change how government ministries and departments, public sector undertakings, and other top autonomous organizations of the Central Government acquire products and services.
The GeM is a website that the Ministry of Commerce and Industry of the Government of India developed in 2016 to make it easier for different government agencies and organizations to purchase products and services.
All government agencies, businesses in the public sector, independent groups, and other organisations are welcome.
The GeM portal currently offers the employment of transport services along with more than 7400 products in around 150 product categories.
GeM is an entirely digital, cashless, and system-driven e-marketplace that makes it possible to purchase everyday goods and services with little to no interaction from humans.
Nation of origin Sellers must specify the Country of Origin each time a new product is registered on GeM.

Significances:

GeM largely removes the need for human interaction during order placement, vendor registration, and payment processing.
GeM is an open platform that places no restrictions on legitimate vendors who want to work with the government.
Direct purchases on GeM can be completed in a matter of minutes, and the entire process is online, integrated from beginning to end, and equipped with online tools for determining price justification.
In comparison to other popular e-procurement systems used by the Government sector, the bidding/Reverse Auction (RA) facility on GeM is among the most transparent and effective for higher-value purchases.
GeM is an entirely secure platform, and both buyers and sellers electronically sign all documents on GeM at various stages.
GeM can entice more suppliers, particularly small and medium-sized businesses, to engage in government procurement procedures, increasing competition and improving the government's financial value.

Read Also: MSME Sector in India

Source: PIB

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