Commercial

Government E-Marketplace Records Four-Fold Increase in Total Value of Transactions in 2018-2019

15.04.2019

Government e-Marketplace (GeM), the national public procurement portal has closed the FY 2018-2019 on a high note. The year witnessed a four-fold increase in total value of transactions on the portal and doubling of number of sellers in the marketplace. Further, GeM facilitates procurement at the right price, right quality and right quantity in a transparent and efficient manner.

GeM provides online procurement of common use Goods & Services required by various Government Departments / Organisations / PSUs. GeM aims to enhance transparency and efficiency in public procurement. It provides the tools of e-bidding, reverse e-auction and demand aggregation to facilitate the government users, achieve the best value for their money. Apart from the States, UT, Central Ministries and CPSU events, 18 dedicated theme-based events, which included technology architecture, services, credit facilities, legal framework, localization etc. were held to steer the future roadmap for GeM and strategize exponential growth.

Further, another special initiative was launched to enable Women Entrepreneurs and Women led Self Help Groups to showcase and sell their products on GeM. The initiative is aptly named as ‘Womaniya’. Another programme like SWAYATT- an initiative to promote Start-ups, Women and Youth Advantage through e-Transactions was launched in February 2019. There has also been an overall growth in other dimensions like number of categories, products and buyers. Despite such phenomenal growth in transactions, average rejection rate of supplies remained below one percent, which is proof of high quality of products/services offered on the portal. Traffic on GeM website has increased by 50% in FY 2018-19 as compared to FY 2017-18.

MoUs have been signed with 12 banks for payment integration to facilitate a cashless, contactless and paperless payment system on the platform. Since its inception on 9th August, 2016, GeM has transformed public procurement in the country by leveraging technology and making procurement contactless, paperless, and cashless.

Tags : GeM Transactions Increase

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