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Over Rs 3 lakh crore worth of public procurement has been done on Government e-Marketplace (GeM) so far, the Ministry of Commerce & Industry said on Monday.Government e-Marketplace (GeM), the National Public Procurement Portal of the country is an end-to-end online Marketplace for the procurement of goods and services. It was launched on August 9, 2016, as part of the vision of Prime Minister Narendra Modi for redefining public procurement.GeM has been able to bring about radical changes in the way procurement was done by Government buyers and public sector undertakings. GeM is contactless, paperless, and cashless and stands on three pillars: efficiency, transparency, and inclusivity, the ministry said in a statement.GeM Seller Samvad was held in Mumbai on Monday. A number of Government e-Marketplace vendors shared their experiences in GeM Seller Samvad. This gave an opportunity to the GeM sellers to learn about the new GeM features and functionalities that further makes it conducive for them to operate on the portal.GeM's Business Facilitator for Maharashtra and Daman and Diu Nikhil Patil informed that the GeM portal is not only limited to Central Government offices. It provides a one-stop online procurement portal for all Government Buyers including Central/State Ministries, Departments, Bodies & PSUs. All states (except Sikkim) have entered into an 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. Maharashtra state entered into an agreement with GeM in March 2018, informed Nikhil Patil.In his presentation, Patil highlighted the advantages for SMEs for doing business in the GeM portal. MSEs, especially sole proprietors on GeM can now get a loan at the point of acceptance of an order on the GeM platform. Approximately 2,000 minor and 460+ major functionalities have been introduced on GeM, in the last 24 months for increasing ease of doing business.The Seller Samvad was also attended by Nishant Deengawal, Director - States and Union Territories (GeM) and Nodal Officer of GeM in Maharashtra. Deputy Director of Press Information Bureau, Mumbai Regional Office, Dheep Joy Mampilly was also present on the occasion.It is noteworthy that GeM has surpassed the milestone of Rs 1 Lakh Crore of procurement value, in a single fiscal year in FY 21-22. Since its inception, GeM has facilitated over 1 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.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Business :Over Rs 3 lakh crore worth of public procurement done on GeM

Over Rs 3 lakh crore worth of public procurement has been done on Government e-Marketplace (GeM) so far, the Ministry of Commerce & Industry said on Monday. ...