Part of: GS Prelims and GS-III – Policies and Interventions
In news The Government e-Marketplace (GeM) system has resulted in a 10% savings in public procurement costs in five years, but has still tapped only 5% of India’s total government purchases of about Rs 20 lakh crore a year.
- 56% of the order value processed through the GeM portal has been delivered by Micro, Small and Medium Enterprises (MSMEs), with seven lakh small firms on board.
About Government e-Marketplace (GeM)
- GeM is a one-stop National Public Procurement Portal to facilitate online procurement of common use Goods & Services required by various Central and State Government Departments/Organizations/Public Sector Undertakings (PSUs).
- The procurement of goods and services by Ministries and the Central Public Sector Enterprises (CPSEs) is mandatory for goods and services available on GeM.
- It also provides the tools of e-bidding and reverse e-auction to facilitate the government users achieve the best value for their money.
- At present, GeM has more than 30 lakh products, over Rs. 10 lakh crore worth of transactions have happened so far at the portal.
- It was launched in 2016 to bring transparency and efficiency in the government buying process.
- Nodal Ministry: Ministry of Commerce and Industry.
News Source: TH