Govt Targets Rs 50,000-Crore in Fiscal Year 2020 Through Gem

India’s public procurement portal Government e-marketplace (GeM) has witnessed a multifold increase in transactions which ultimately led the Commerce Ministry to set a target of Rs 50,000 Crore in 2019-20, and hitting Rs 1 trillion worth of procurements by 2021.

What is Government E-Market Place?

• It is an online marketplace to facilitate procurement of goods and services by various Ministries and government agencies.
• The platform offers online end to end solution for procurement of commonly used goods and services for all central government department and state governments, public sector units and affiliated bodies.
• It aims to enhance transparency, efficiency and speed in public procurement of goods and services and eliminate corruption.
• Union Minister of Commerce & industry launched the National Mission on Government E-Market place for increasing awareness and accelerating the use of GeM Platform.
• GeM is a completely paperless, cashless and system driven e-marketplace that enables procurement of commonly used goods and services with minimal human interface.

Gem has displayed its potential in initial 2 years as it got setup in 2016 therefore all  stakeholders from various sectors should come together to unleash the full potential of Gem.

Topics: Business , E-commerce , E-procurement , GeBIZ , Government procurement , Government procurement in Russia , Procurement , Public economics

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