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Govt E Marketplace records 4 fold increase in total value of transactions in 2018-19

The year witnessed a 4-fold increase in total value of transactions on the portal and doubling of number of sellers in the marketplace. There has also been an overall growth in other dimensions like number of categories, products and buyers. Despite such phenomenal growth in transactions, average rejection rate of supplies remained below one percent, which is proof of high quality of products/services offered on the portal.

SIGNIFICANT MILESTONES OF GOVERNMENT E MARKETPLACE IN FY 2018-19

(1) More than 17 lakh transactions on the platform generating Rs. 23,000 crores in Gross Merchandise Value

(2) Made over 8.8 lakh products available on its platform through a network of over 2 lakh sellers and service providers.

(3) These products and services are being bought by over 34,000 government organisations

(Central, State Governments and PSUs) registered on the platform.

(4) 42% of transactions by volume are done with MSMEs registered on the platform.

(5) Buyers from across 36 States and Union Territories are buying on the platform.

(6) 24 States and UTs have signed a formal MoU with GeM to adopt it as the core procurement portal in their respective territories.

(7) Average savings of more than 25% achieved across transactions on the platform.

(8) Integration with Aadhaar, UdyogAadhaar, Ministry of Corporate Affairs21 (MCA21), Public Financial Management System (PFMS), PAN, GSTN, Controller General of Defence Accounts (CGDA), Railways, and Securities and Exchange Board of India (SEBI) empanelled rating agencies for robust registration process.

(9)Traffic on GeM website has increased by 50% in FY 2018-19 Vs. 2017-18.

(10 )Training of over 1.3 lakh buyers and sellers has been conducted across 28 States and UTs to enable them to seamlessly operate the platform.

WHAT IS GEM ?

 GeM is a short form of one stop Government e-Market Place where goods and services can be procured.

ADVANTAGES OF GEM

For Buyers

-Rich listing of products for individual categories of Goods/Services

-Search, Compare, Select and Buy facility

-Buying Goods and Services online, as and when required.

-Transparent and ease of buying

-Continuous vendor rating system

-User-friendly dash board for Buying and monitoring supplies and payments

-Easy Return policy

For Sellers

-Direct access to all Government departments.

-One stop shop for marketing with minimal efforts.

-One stop shop for bids / reverse auction on products / services

-New Product Suggestion facility available to Sellers

-Dynamic pricing: Price can be changed based on market conditions

-Seller friendly dashboard for selling and monitoring of supplies and payments

-Consistent and uniform purchase procedures

Since its inception on 9th August 2016,GeM has transformed public procurement in the country by leveraging technology and making procurement contactless, paperless, and cashless. GeM facilitates procurement at the right price, right quality and right quantity in a transparent and efficient manner. The platform reduces manual process inefficiencies and human interventions in procurement and enables increased coverage, access, and efficiency of faceless standardized public procurement.

 

 

 

STORY BY: Arun Sharma

Business Journalist

@ArunSharmaLive

 

 

The post Govt E Marketplace records 4 fold increase in total value of transactions in 2018-19 appeared first on Udaipur News | Udaipur Latest News | udaipur local news.

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