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TMI BlogGovernment E-Marketplace (Gem) Completes 2 Years Tomorrow; Grosses over ₹ 10,000 crore in GMVthrough morethan 6.16 lakh TransactionsX X X X Extracts X X X X X X X X Extracts X X X X ..... Government E-Marketplace (Gem) Completes 2 Years Tomorrow; Grosses over ₹ 10,000 crore in GMVthrough morethan 6.16 lakh Transactions - News and Press Release Dated:- 8-8-2018 - News - Government e-Marketplace (GeM),the National Public Procurement Portal,will turn 2 years old tomorrow.It was launched on 9th August 2016, with the objective of creating an open, transparent and efficient procu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rement platform for government.Over its short journey, GeM has achieved many significant milestones. Some of these are: GeM has grossed over ₹ 10,000 Crores in Gross Merchandise Value (GMV) through more than 6.16 Lacs transactions on the platform. GeM has made over 4.2 lakh products available on its platform through a network of over 1.3 lakh sellers and service providers. These ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... products and services are being bought by over 25,000 government organisations (Central, State Governments and PSUs) registered on the platform More than 40% of transactions by volume are done with MSMEs registered on the platform Buyers from across 36 States Union Territories (UTs) are buying on the platform. 24 States UTs have signed a formal MoU with GeM to adopt GeM as the core procu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rement portal in their respective territories. Average savings of 25% achieved across transactions on the platform Integration with Aadhaar, UdyogAadhaar, Ministry of Corporate Affairs21 (MCA21), Public Financial Management System (PFMS) , PAN, GSTN, Controller General of Defence Accounts (CGDA) and Securities and Exchange Board of India (SEBI) empaneled rating agencies for robust registrati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on process Training of over 40 thousand buyers and sellers has been conducted across 28 States UTs to enable them to seamlessly operate the platform MoUs have been signed with 8 banks for payment integration (State GeM Pool Account-SGPA, Electronic Performance Bank Guarantee-ePBG, Electronic Earnest Money Deposit-eEMD) to facilitate a cashless contactless and paperless payments system on t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he platform. MoU signed with MSME ministry, Common Service Centers (CSC) and industrial associations (Confederation of Indian Industry-CII, Federation of Indian Chambers of Commerce and Industry-FICCI, PHDChamber of Commerce Industry, IIA) for facilitating training, capacity building and onboarding of manufactures and vendors across the country. Integration with Quality Council of India ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... QCI) for ensuring quality compliances of the products and services offered through GeM The platform supports many best-in-class features and functionalities to encourage and support buyers and sellers. Some of these include: Robust catalogue management with well-defined data types for standardized seller and buyer experience. Improved, powerful search engine with advanced filters and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... functionalities for seamless discovery and enabling procurement policy related guidelines. Multisource, real time price comparison to enable informed decision making through price discovery for buyers. Multi-cart functionality and market based bunching of products to enable time efficient buying. Support for multiple languages to enhance openness and usability of the platform. Advance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d analytics to improve availability of rich, automated information. Integration of demand aggregation to enable realization of greater savings for buyers. Ratings for sellers and buyers based on performance on GeM portal. Bunching of products to enable buyers to make easy seamless procurement. State Government Pool Account (SGPA) is opened and operationalized by Bihar and Uttar Prade ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sh. Chhattisgarh and Himachal Pradesh have notified SGPA and are in the process of opening accounts. Customized dashboards created and communicated to all senior officers in Government of India (Secretary and Additional Secretary Financial Advisor/Joint Secretary Financial Advisor) and State Governments. Rich BI using advanced analytical tools available to all GeM users. Bids for servi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ces now enabled on the platform. Automation of exemptions provided for Micro, Small Medium Enterprises (MSME), Startups through integrationwith Udyog Aadhar/Department of Industrial Policy Promotion. GeM is an end-to-end, one stop online marketplace for Central and State Government Ministries and Departments, Central State Public Sector Undertakings (CPSUs SPSUs), autonomous insti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tutions and local bodies for procurement of common use Goods Services. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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