More than 3000 startups are already registered on GeM and they have received orders amounting to Rs. 522 crore till date. More than 58,101 MSMEs are registered on platform and 50% of the entire transactional value on GeM is from MSMEs.
CEO GeM informed that the Gross Merchandise Value (GMV) onGeM portal has crossed Rs. 36,000 crores. Nearly 40 thousand buyer organisations are registered on this procurement portal. There are over 2.95 lakh sellers/service providers on GeM.
Average time taken for seller registration has come down from 20 days to 2 days. Given the shorter procurement cycles and competitive prices, Government entities in general and CPSUs in particular are increasingly procuring from GeM.
Government e Marketplace (GeM) is working with the Rural Development Ministry, State Government Emporia and Development Commission Handicarfts to on board self-help groups (SHGs) and artisan clusters on GeM. This was announced by CEO GeM, Talleen Kumar in New Delhi yesterday.
The products will be categorized as Emporium Products where the unique items produced by India’s artisans will be available on GeM. Work is underway to factor in technical solutions so that working capital and traceability of the items is available to buyers and sellers on the platform.
CEO GeM also outlined some of the initiatives that are underway:
Designing and implementation of a Flexible Bid Document builder with Best Practices
Faster and more accurate creation of categories/ services
Onboarding Works Contract and project buying
Use of AI, ML to sanitize catalogue of products and services
UI/UX improvement for enhancing the experience of buyers and sellers
Pre-despatch inspection services for buyersFeedback on quality from buyers and ensuring quality in public procurement
A contextual AI/ ML/ Deep Learning driven virtual assistant so that the experience of buyers and sellers is enhanced
Moving towards a framework for ensuring payment within a guaranteed timeframe
Opening up GeM for Government contractors and private entities for bulk buying
GeM is working on a robust online seller and buyer rating mechanisms which will allow sellers to avail working capital loans where the cost of capital is linked to the performance and rating of sellers.
This will also help buyers to procure from highly rated sellers in critical areas of procurement.
Setting up of GeM Organisational and Transformation Team (GOTT) in the buyer organizations on an outcome based self-sustenance model to realign the procurement process in the organization and leverage the marketplace procurement platform to its fullest potential
The significant achievementsof GeM till date are:
Gross Merchandise Value (GMV)
GeM has crossed an order value of Rs. 36,000 crores
Buyer organizations registered
Sellers/ Service providers
Average time taken reduced from 20 daysto 2 days.
Ease of procurement
Given the shorter procurement cycles and competitive prices, Government entities in general and CPSUs in particular are increasingly procuring from GeM.
Direct Purchase (DP)
Through DP, Sellers can choose their own areas of delivery and Buyers can choose through Pin code filtering. This will drastically reduce incidents of non-delivery through DP.
Online Vendor Assessment
This completely online system launched through Quality Council of India will help handle Vendor assessment faster& transparently. All OEMs will be assessed first and thereafter the other vendors and service providers will also be assessed.
GeM Pool Account (GPA)
Completed GeM Pool Account (GPA) integration with Seven Public Sector Banks. GPA will ensure timely payments to vendors
With the launch of ‘Business Cockpit’, OEMs on GeM will now get deeper business insights like value, volume, coverage and category trends helping them optimise their business.
Migration to GCC
Successfully migrated to GCC (Government Community Cloud).
GeM signed the MoU to set up GOTT (GeM Organizational Transformation Team) PMU with Steel Authority of India Limited (SAIL), Punjab etc. More in the pipeline.
MoU withBanks and Financial Institutions
GeM’s growing partnership with financial institutions such as SIDBI to enable the growth of MSMEs and Start-ups in the country.
Video Conference with States
Regular interactions with major Buyer Ministries, States and PSUs at top levels are held to address their concerns.
GeM has become a partner in the growth story of MSMEs and Start-ups. GeM SPV is the National Public Procurement Portal for ensuring efficient and transparent mechanisms for procurement of goods and services by Central and State government organizations in a cashless, contactless and paperless manner.
Through continuous innovation and improvement of offering, GeM is set to become the Best e-Marketplace in the world.
GeM is a complete online marketplace that allows all bonafide sellers to register themselves and transact on the platform. All verifications are done through online integration.
GeM promotes inclusiveness and promotes ease of doing business with the government. It is a fully transparent online marketplace which not only speeds up public procurement but also ensures substantial savings in the process (15-25% on an average)
GeM ensures efficient transmission of policy intent which can benefit SMEs such as MSME Preference Policy, Make in India and Start-ups which can be effectively implemented on a rule-based electronic platform.