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MUMBAI: The procurement of goods and services through Government e-Marketplace (GeM) has surpassed Rs 2 lakh crore in the financial year 2022-2023 with commerce and industry minister Piyush Goyal estimating savings of account around Rs 39,000 crore through the use of Amazon-like platform for public procurement.
Goyal said the government is conducting price checks to ensure that prices on the platform are the lowest and that vendors on GeM do not sell products cheaper elsewhere.
He added that the creation of the marketplace was to further the Prime Minister’s objective to run government departments with the highest levels of integrity and transparency, with participation from people from the remotest corners of the country. It also enables women entrepreneurs, startups, and the MSME sector to participate in a fair and equitable manner in government procurements.
GeM CEO P K Singh said it had invited tenders to build a platform where vendors can avail of the cheapest finance. He said the platform has surpassed the Rs 3.9 lakh crore GMV since its inception in August 2016, with a little under 1.5 crore total transactions.
Goyal said the government is conducting price checks to ensure that prices on the platform are the lowest and that vendors on GeM do not sell products cheaper elsewhere.
He added that the creation of the marketplace was to further the Prime Minister’s objective to run government departments with the highest levels of integrity and transparency, with participation from people from the remotest corners of the country. It also enables women entrepreneurs, startups, and the MSME sector to participate in a fair and equitable manner in government procurements.
GeM CEO P K Singh said it had invited tenders to build a platform where vendors can avail of the cheapest finance. He said the platform has surpassed the Rs 3.9 lakh crore GMV since its inception in August 2016, with a little under 1.5 crore total transactions.
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