+
GeM Portal Boosts Micro-Businesses
ECONOMY & POLICY

GeM Portal Boosts Micro-Businesses

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.

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.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?