GeM Procurement Surpasses Rs 2 trillion in FY23

GeM Procurement Surpasses Rs 2 trillion in FY23

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In 2022–2023, the value of purchases made through the Government e- Marketplace (GeM) portal exceeded Rs 2 trillion. The salient features are:

• Since its debut, GeM's gross merchandise value (GMV) has exceeded Rs 3.9 trillion. Over 67,000 government buyer entities are currently served by GeM for their procurement requirements.

• The portal offers over 280 service categories with more than 280,000 service offerings and about 11,700 product categories including over 3.2 million listed products.

• Multiple procurement methods are supported by the platform, including direct purchase, bidding, L1 procurement (lowest bidder) and reverse auction.

On August 9, 2016, the commerce ministry introduced GeM, an online service for procurement processes, with the goal of:

• Creating an inclusive, effective, and transparent platform for buyers and sellers to conduct procurement activities in a fair and competitive manner.

• It serves as a one-stop shop for the online purchase of common goods and services needed by numerous government agencies, organisations, and PSUs.

• GeM seeks to increase the speed, efficiency, and openness of public procurement. To help government users get the most for their money, it offers demand aggregation, reverse e-auction, and e-bidding tools.

• The Ministry of Finance has allowed and mandated that Government users make purchases using GeM.

Users can access the portal at https://gem.gov.in/. Thus, GeM enables contactless, paperless, and cashless transactions. Users are authenticated through API integration with the relevant domain databases, including PAN, Aadhaar, Startup, MCA21, GSTN, etc. In GeM, a primary user is not entitled to take part in the procurement process and has to create a secondary user for procurement.

GeM Benefits for Purchasers

• Provides a comprehensive listing of products for specific Goods/Services categories

• Provides a facility for searching, comparing, choosing, and purchasing

• Makes it possible to purchase goods and services online as and when needed

• The provision of a simple return policy is combined with the following features:

i.Transparency and ease of purchase

ii.Continuous vendor rating system

iii.Current, user-friendly dashboard for purchasing, monitoring supply, and payments

GeM Advantages for Sellers

• Accessibility to all Government departments.

• One-stop shop for advertising with the least effort One-stop solution for bids / reverse auction

• Latest Product Suggestion facility available for all sellers

• Dynamic pricing: Price can be changed based on market conditions Seller-friendly dashboard for monitoring and selling of materials and payments

• Reliable and consistent purchase procedures

Source: Vikaspedia.in