The Government e-Marketplace (GeM) platform sees a potential of $100 billion of transactions as it gears up for an upgrade in September.
The online platform, which turned four years on August 9, has registered a transaction value worth Rs 58,578 crore with 441,043 sellers and service providers on board.
GeM CEO Talleen Kumar said on Tuesday that a unified procurement system is being planned that consolidates all public procurement platforms allowing vendors to onboard on one platform. The consolidation will lead to better economies of scale, dissemination of best practices and efficient price discovery.
“The products and services amenable to procurement in a marketplace is about 5 per cent of the GDP. In India this translates roughly to Rs 5-8 lakh crore per annum. If we consider Rs 7 lakh crore per annum it translates to $100 billion. Our aim is to get as close to $100 billion per annum as possible,” Kumar said at a session organised by Indian Chamber of Commerce.
“Around 200 plus processes are in the pipeline which will be completed by September 2020,” he said.
Besides onboarding weavers and craftsmen to promote domestic industry, the platform is working with banks to provide uncollateralised working capital credit for sellers.
Union finance minister Nirmala Sitharaman in her budget speech had said that the government intends to create a unified procurement system for the public sector by providing a single platform for procurement of goods, services and works, that will benefit MSMEs.
