In GeM Seller Samvad held in Mumbai, a number of Government e-Marketplace vendors shared their rich experiences, saying their volume of business has grown ever since they registered with Government e-Marketplace. They are also now able to operate in much larger areas than earlier as it helps in tying up with various government and private entities like India Post and others. GeM portal is open for all the buyers and sellers across the country. When they cooperate and collaborate with each other, not only their businesses increase substantially, but the prospects of job creations also get brighter.
Government e Marketplace (GeM) acts as a one stop portal to facilitate online procurement of common use goods and services. It is transparent, efficient and has economy of scale and is speedy in procurement. Cooperative Societies are now allowed to procure goods and services from GeM. Since the societies have more than 27 crore members, procurement through GeM would not only economically benefit the common man, but it would also enhance the credibility of the cooperatives.
GeM- the National Public Procurement Portal of the country is an end-to-end online Marketplace for the procurement of goods and services. It is, in reality, redefining public procurement as it has been able to bring about radical changes in the way procurement is done by government buyers and public sector undertakings. Being contactless, paperless and cashless, and standing on three pillars such as efficiency, transparency and inclusivity, it promises a lot more for the small businesses.
The GeM SPV has made significant strides since its inception. The Gross Merchandise Value (GMV) has grown with CAGR of over 84.5% from financial year 2018-19 to financial year 2021-22. It is noteworthy that GeM has surpassed the milestone of Rs. 1 lakh crore of procurement value in a single fiscal year in financial year 21-22. Since its inception, GeM has facilitated over one crore transactions valued at over Rs. 3.02 lakh crore. This has only been possible with the support of all stakeholders including buyers and sellers across the country.
More than 8.54 lakh cooperatives are already registered with it. Allowing Cooperative Societies to register on GeM as Buyers helps cooperatives in getting competitive prices through an open and transparent process. GeM provides a dedicated onboarding process for cooperatives, offering the technical infrastructure to support additional users on existing portal, as well as providing assistance to cooperatives for onboarding and transaction journeys via available contact centers, in-field training and other support services.
Ministry of Cooperation issues necessary advisories to encourage the Cooperative Societies to make use of the GeM platform for procurement of goods and services in order to benefit from increased transparency, efficiency and competitive prices. To protect interests of the broader seller community on GeM and ensure timely payments, the modalities of payment systems are decided by GeM in consultation with the Ministry of Cooperation.
GeM has drastically reduced cost of doing business, especially in curtailing need for travel in meeting prospective buyers as it provides a one-stop online procurement portal for all government buyers including central and state ministries, departments, cooperative societies, bodies & PSUs. All states except Sikkim, have entered into a MoU with GeM, thereby facilitating businesses from all around the country to do business with government departments located all over India, even in remote corners.
The heterogeneous nature of GeM’s seller base clearly reflects on the founding pillar of inclusivity. Starting from the big companies and conglomerates, the seller base includes women entrepreneurs, Self Help Groups and MSME sellers from all over the country. Moreover, special provisions have also been created on the GeM portal to ensure a seamless on-boarding experience for MSMEs and SHGs. More than 62 thousand registered government buyers and 50.90 lakh sellers and service providers speak for the size and scale of GeM operations.
Since its inception, GeM has been steadily growing with new product and service categories being added constantly. Currently, there are about 300 service categories and over 10000 product categories available on GeM. These categories feature around 44 lakhs catalogues of product and service offerings. Further, GeM is an evolving platform and relentlessly works towards adding new features and functionalities to the portal.
The Government e Marketplace was launched on August 9, 2016 by the Ministry of Commerce and Industry, Government of India to create an open and transparent procurement platform.