GeM Portal Boosts Micro-Businesses

07 Nov 2023 CW Team

Micro and small enterprises are making substantial gains through the Government e-Market (GeM) portal, with an expected turnover exceeding $20 billion by the fiscal year-end. GeM, launched on August 9, 2016, serves as a platform for central government ministries and departments to procure goods and services online.

According to GeM CEO P K Singh, the platform actively supports these enterprises, enabling their increased participation in government procurement. Over the years, micro and small enterprises have accounted for 50% of total procurement on the platform, with procurement figures surging from $5 million in 2016-17 to $5 billion in 2020-21. This fiscal year, the procurement is expected to exceed $20 billion.

Furthermore, GeM offers valuable business intelligence and data analytics services to ensure that firms receive correct, relevant, and timely information. GeM boasts a vast network, with over 63,000 government buyer organisations and more than 6.2 million sellers and service providers offering a diverse array of products and services.

The total procurement of goods and services through the platform has surpassed Rs 2 trillion in the current fiscal year. GeM is open to government departments, ministries, public sector units, state governments, and central armed police forces. It provides a wide spectrum of products, from office stationery to vehicles, with major product categories including automobiles, computers, and office furniture.

The portal also encompasses services such as transportation, logistics, waste management, webcasting, and analytics. While GeM ranks third globally among such platforms, it continues to be a vital resource for micro and small enterprises, empowering them in the government procurement landscape.

Infrastructure Urban

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