What is GeM 4.0?
E- Marketplace for Government (GeM): Promoting Excellence in Procurement.
The Government e-Marketplace (GeM) has demonstrated its effectiveness in procuring goods and services by reaching an annual procurement value of Rs 1 lakh crore.Additionally, during the current fiscal year, GeM has set out on an ambitious goal to quadruple the procurement value for Defense projects to Rs 30,000 crore. This admirable accomplishment highlights the critical role that GeM plays in enabling effective and transparent procurement procedures throughout the country.
“GeM 4.0 has transformed government procurement, reaching Rs 1 lakh crore in annual procurement value, targeting Rs 30,000 crore for defense projects, and prioritizing MSMEs and transparency.“
P K Singh, the CEO of GeM, states that the platform expects to generate revenues of Rs 2 lakh crore in 2022–2023—a figure that reflects its strong development trajectory.With defense procurement reaching almost Rs 15,000 crore last year, GeM has established itself as the go-to platform for meeting defense-related requirements, encompassing a wide spectrum of goods and services. Notably, the Defense sector has emerged as the largest procurer through GeM since its inception.
Prime Minister Narendra Modi praised GeM’s enormous accomplishment, stressing its role in empowering MSMEs, which make up a large amount of the order value. With the MSME sector accounting for 57% of the order value, GeM has emerged as a catalyst for promoting economic inclusivity and entrepreneurship.
Moreover, GeM is leading efforts to integrate with Panchayati Raj Institutions, facilitating online sales and purchases at the community level. GeM is dedicated to expanding its influence and reach to the most remote regions of the nation, as demonstrated by the accomplishments of its pilot programs in Gurgaon district panchayats. To further improve accessibility and convenience, GeM is set to combine with IndiaPost to offer logistical services at the local level.
GeM has introduced schedule-wise evaluation for Bill of Quantity (BoQ) bids in an effort to improve usability and transparency. This strategic improvement allows buyers to publish and evaluate bids item-wise, group-wise, and consignee-wise, which streamlines the procurement process and guarantees the best results.
GeM’s steadfast dedication to its fundamental principles—inclusion, usability, transparency, efficiency, and cost-saving—underlines its revolutionary influence on public procurement in India. GeM, one of the biggest government e-procurement platforms in the world, has grown at an impressive pace of 22%, processing over 31.5 lakh orders in the current fiscal year.
With almost 50 lakh registered vendors, GeM is well-positioned for more growth and outreach. Campaigns to onboard more shops are planned, which will broaden GeM’s audience and encourage more engagement in the online market.
During the recent visit of Commerce Minister Piyush Goyal to Coimbatore, merchants emphasized the need of raising awareness about GeM. GeM is dedicated to informing stakeholders about its numerous advantages and prospects in response.
GeM’s costs are 9.5% less than those of well-known online retailers like Amazon.in and Flipkart.in, according to an analysis published in the Economic Survey 2021–2022. This highlights GeM’s dedication to offering affordable solutions and generating value for both consumers and sellers.
Conclusion
GeM’s incredible journey demonstrates its unwavering dedication to excellence, openness, and diversity in public procurement. As GeM develops and broadens its reach, it stays true to its goal of promoting socioeconomic progress and prosperity throughout India.
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