The Indian government launched the Government e-Marketplace (GeM), an online marketplace designed to make it easier for different government agencies, groups, and public sector enterprises (PSUs) to purchase goods and services. GeM seeks to revolutionize procurement by increasing its transparency, effectiveness, and economy. This is a synopsis of the GeM portal:
OBJECTIVE: The goal of GeM’s introduction was to provide a single, integrated platform for government procurement, doing away with the need for numerous tendering procedures and documentation. In public procurement, it seeks to advance inclusivity, efficiency, and openness.
FEATURES: There are several characteristics and features available on the GeM portal, such as:
An online marketplace where goods and services can be bought and sold
transparent procedures for procurement and bidding
Organizing a catalog to facilitate the listing and searching of goods and services
Safe payment gateways for transactions undertaken online
Vendor performance assessment and rating methodology
Integration with e-procurement systems implemented by the government
Buyer Benefits: GeM offers government purchasers several advantages, such as:
Access to a broad array of goods and services from accredited suppliers
Open pricing and comparison of quality
Shorter procurement procedures and less paperwork
adherence to the policies and procedures governing government procurement
Cost savings through bulk purchases and participating in competitive bidding.
Advantages for Vendors: GeM enables vendors, such as producers, distributors, and service providers, to:
By selling straight to government purchasers, they can increase their market share.
Make the tendering and bidding procedures simpler.
Get paid right away for whatever goods and services you provide.
Boost your exposure and credibility by using evaluations of performance and vendor ratings.
Gain access to insightful data and analytics to enhance your sales tactics.
All things considered, the Government e-marketplace (GeM) site is essential to India’s modernization of public procurement since it fosters accountability, efficiency, and openness in public affairs. It acts as a central marketplace where buyers and sellers may transact business and support the nation’s digital economy.
