SMEs Boost Services Procurement via GEM as Value Surges to INR 1.5 tn in FY20-21

02 Nov 2023 CW Team

GEM, an online platform developed by the central government, has been a game-changer for SMEs in their pursuit of procurement opportunities. Through GEM, SMEs have gained easier access to a wide range of procurement services digitally, enabling them to expand their business networks and compete on a larger scale.

With the digitization of services procurement, the cumbersome paperwork and bureaucratic hurdles once faced by SMEs have been eliminated. GEM has simplified the procurement process, making it more transparent, efficient, and accessible for all stakeholders. This has subsequently led to substantial growth in services procurement, resulting in the remarkable surge in value.

The pandemic has also played a significant role in accelerating the adoption of GEM for services procurement. With traditional modes of procurement disrupted due to lockdowns and social distancing measures, SMEs turned to the digital platform to continue their operations. This shift has not only ensured business continuity but has also opened up new avenues for growth and collaboration through GEM.

Among the various services procured through GEM, IT services have witnessed a notable increase in demand. As more businesses embrace digital transformation, the need for IT-related solutions and support has surged. GEM has provided SMEs with access to a vast pool of IT service providers, enabling them to meet their technology requirements efficiently.

Furthermore, GEM's role in promoting fair competition cannot be overlooked. The platform has welcomed a diverse range of service providers, fostering healthy competition and driving up quality standards. This has resulted in improved service delivery and better value for money for procuring entities.

Looking ahead, SMEs are expected to further leverage GEM for services procurement. The government's focus on digital initiatives and ease of doing business provides a conducive environment for the growth of online procurement platforms. With continuous efforts to enhance the capabilities and user experience of GEM, SMEs will have even greater opportunities to expand their services procurement and contribute to the country's economic development.

In conclusion, the rise in services procurement through GEM, driven by SMEs, is witnessing unprecedented growth. The substantial surge in value to INR 1.5 trillion in the current fiscal year highlights the platform's effectiveness in bridging the gap between SMEs and procurement opportunities. With GEM serving as a catalyst for digital transformation and promoting fair competition, SMEs are poised to thrive in the services procurement landscape.

The Government e-Marketplace (GEM) has witnessed a significant surge in services procurement, primarily driven by small and medium-sized enterprises (SMEs). The value of services procured through GEM is projected to reach INR 1.5 trillion in the current fiscal year, reflecting an impressive increase in market activity. GEM, an online platform developed by the central government, has been a game-changer for SMEs in their pursuit of procurement opportunities. Through GEM, SMEs have gained easier access to a wide range of procurement services digitally, enabling them to expand their business networks and compete on a larger scale. With the digitization of services procurement, the cumbersome paperwork and bureaucratic hurdles once faced by SMEs have been eliminated. GEM has simplified the procurement process, making it more transparent, efficient, and accessible for all stakeholders. This has subsequently led to substantial growth in services procurement, resulting in the remarkable surge in value. The pandemic has also played a significant role in accelerating the adoption of GEM for services procurement. With traditional modes of procurement disrupted due to lockdowns and social distancing measures, SMEs turned to the digital platform to continue their operations. This shift has not only ensured business continuity but has also opened up new avenues for growth and collaboration through GEM. Among the various services procured through GEM, IT services have witnessed a notable increase in demand. As more businesses embrace digital transformation, the need for IT-related solutions and support has surged. GEM has provided SMEs with access to a vast pool of IT service providers, enabling them to meet their technology requirements efficiently. Furthermore, GEM's role in promoting fair competition cannot be overlooked. The platform has welcomed a diverse range of service providers, fostering healthy competition and driving up quality standards. This has resulted in improved service delivery and better value for money for procuring entities. Looking ahead, SMEs are expected to further leverage GEM for services procurement. The government's focus on digital initiatives and ease of doing business provides a conducive environment for the growth of online procurement platforms. With continuous efforts to enhance the capabilities and user experience of GEM, SMEs will have even greater opportunities to expand their services procurement and contribute to the country's economic development. In conclusion, the rise in services procurement through GEM, driven by SMEs, is witnessing unprecedented growth. The substantial surge in value to INR 1.5 trillion in the current fiscal year highlights the platform's effectiveness in bridging the gap between SMEs and procurement opportunities. With GEM serving as a catalyst for digital transformation and promoting fair competition, SMEs are poised to thrive in the services procurement landscape.