Advantages of GeM in 2021 and how to start using it
Dear Friends,
We all had our luck in managing 2020 as it was a roller coaster ride. However, crises always lead to opportunities, something which reflects in our increased use of technology in our day to day lives than ever before, making us efficient, insulating us from Pandemic, and removing existing redundancies.
With the pandemic taking the world by surprise, the Government e-Marketplace (GeM) acted as a much-needed answer to all the challenges that plagued Supply Chain Management. GeM – Government e-marketplace is an online ecommerce Business to Government (B2G) Portal developed indigenously by the Commerce Ministry and managed by their Special Purpose Vehicle (GeM SPV team).
The GeM portal was originally started in August 2016, and as of today it has a transaction value of INR 75,451 Crores with around 2 million products and approximately 1 million Sellers and Service Providers registered in the Portal. It is touted as one of the biggest overhaul of the public procurement system in Independent India thanks to all the stakeholders – the Government of India, Intellect team, all the departments who are using it to do seamless procurement.
In the first year after launching, the transaction value was only INR 1,000 Crores, but in subsequent 3 years the transaction value increased, with the estimated value being INR 75,451 Crores as of today. The Government is planning to take the procurement through GeM to INR 3.00 LAC Crores, or in other words, 4X more than what it has achieved in last 4 years…
THIS IS A HUGE OPPURTANITY FOR SELLERS, creating cost advantages and efficiency for the buyers. In the era of the pandemic, when one can only interact virtually it was a blessing for the Nation to have a system which is capable of managing the entire supply chain management efficiently & effectively.
It is a fine example of Atam Nirbhar Bharat by becoming a catalyst for Make in India and supports free trade practise with equal opportunity.
Please read this article published in Financial Express to understand more about this
In the coming days you will be hearing more from me through this blog about the key feature of GeM. I would be happy to support this wonderful endeavour by providing training and consulting sessions to all stakeholders.