NEW DELHI:
In an effort to increase the turnover of the Government eMarketplace (GeM) to Rs 3 lakh crore, Finance Minister Nirmala Sitharaman on Saturday announced to created a Unified Procurement System in the country.
The aim is to provide a single platform for procurement of goods, services and works. The move “is proposed to take the turnover of GeM to Rs 3 lakh crore. Currently, 3.24 lakh vendors are already on this platform,” said Sitharaman.
The commerce ministry launched GeM, an online platform for public procurement, in August 2016. Created in a record time of five months, it facilitates online procurement of common use goods and services required by various government departments/organisations/PSUs.
GeM aims to enhance transparency, efficiency and speed in public procurement. It provides the tools of e-bidding, reverse e-auction and demand aggregation to facilitate the government users, achieve the best value for their money.
The emarketplace has 42,389 buyer organisations and 324,452 sellers and service providers on the platform. GeM is currently working on several steps including a mechanism for timely payment to registered small businesses and MSMEs.
more recommended stories
Somans Leisure Tours Welcomes New Brand AmbassadorsKOCHI:Somans Leisure Tours India Pvt Ltd.
Technopark-based HEX20 to Fly its Maiden Satellite with SpaceXTHIRUVANANTHAPURAM:Technopark-based small satellite manufacturing company HEX20.
RG Kar: CBI Gets Clues of Ghosh’s Hand in MBBS Selection IrregularitiesKOLKATA:The Central Bureau of Investigation (CBI).
Waqf Row: Siddaramaiah Orders Immediate Withdrawal of Notices to FarmersBENGALURU:Karnataka Chief Minister Siddaramaiah on Saturday.
NSE’s Mobile Application (NSEIndia) and Multilingual Website Expansion Go LiveMUMBAI:On the auspicious occasion of Diwali,.
No Secret Tunnels or Chambers in Puri Jagannath Temple’s Ratna Bhandar: Odisha MinisterBHUBANESHWAR:The mystery surrounding the existence of.
After Cyclone Dana, Another Cyclonic Storm Brewing Over Bay of BengalNEW DELHI:A few days after season’s.
SBI General Insurance Announces Premium RevisionMUMBAI:SBI General Insurance, one of India’s.
Govt Policy Enhances Investors’ Trust in Kerala: Minister P RajeeveTHIRUVANANTHAPURAM:Investment- friendly policies adopted by the.
Minister P Rajeeve Opens TRASNA’s New Office in TechnocityTHIRUVANANTHAPURAM:Minister for Industries Coir and Law.