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Business EconomyPosted at: Sep 5 2018 6:33PM


GeM transactions will touch USD 100 bn in 3 years: Suresh Prabhu

New Delhi, Sep 5 (UNI) Launching the National Mission on Government eMarketplace(GeM) for increasing awareness and accelerating its use, Union Commerce and Industry Minister Suresh Prabhu on Wednesday said transactions on GeM will reach USD 100 billion in next three years.
''We have to graduate in a very short duration. In the next three years, transactions on GeM will reach USD 100 billion, " Mr Prabhu said.
He said GeM was a ‘gift of Prime Minister Narendra Modi to the Government of India just like the 'Akshay Patra' being transferred from one generation to another.
''This 'silver' in the family being transferred from one generation to another, will become the most sought after 'gem','' said Mr Prabhu.
Government eMarketplace is the national public procurement portal offering an online, end-to-end, solution for procurement of common use goods and services by government departments.
The mission aims to give a boost to cashless, contactless, paperless transactions in line with Digital India objectives, he said, adding that the GeM will improve overall efficiency, driving significant savings in Government procurement spends.
The aim of this mission is to promote inclusiveness by empowering various categories of sellers and service providers such as MSMEs, start-ups, domestic manufacturers, women entrepreneurs, and Self-Help Groups, Mr Prabhu said, adding that ''we should think about expanding its scope''.
Eventually, services will become component of Gem, he added.
He said the GeM will maximise easy availability of all types of products and services procured by Government buyers via registration drives for existing vendors, further expanding the base of online products and services.
The Minister said GeM will also highlight and communicate the value addition via transparency and efficiency in public procurement, including corruption-free governance in sync with the Central Government’s objective of ‘Minimum Government, Maximum Governance’.
''The huge army of middlemen, who add no value to commerce and trade, will be be eliminated through this platform,'' he said.
The Central and State Governments along with Banks and PSUs will undertake the national drive from September 6 to October 17, 2018 by organising workshops, roadshow, trainings, events and other information, education and communication activities, including buyer and seller registration.
The National Mission will cover all central government departments, states and public sector undertakings in a mission mode.
Aimed at creating awareness about GeM, the mission will train the buyers and sellers, get them registered in GeM and increase the procurement through GeM.
Widespread training initiatives will be undertaken across the country, ensuring on-boarded buyers and sellers are aware of all GeM features.
GeMprovides an open, inclusive, transparent and efficient online marketplace, which provides huge savings to government.It is mandatory for central government departments to procure through GeM.

As many as 25 states and Union Territories have signed MoU with GeM to adopt it as the mandatory mode of procurement for their departments so far.
GeM deploys technology to completely automate procurement processes and systems, introducing greater accountability in public procurement across India.
In two years of its operations, GeM has recorded more than 7.25 lakh transactions worth over Rs.11,250 crores and established itself as an open, transparent, efficient and inclusive platform providing huge savings to the government.
The portal has nearly 27 thousand buyer organisations registered and about 1.37 lakh sellers and service providers offering more than 4.65 lakh products and services for online purchase and contributes to approximately 20-25 per cent average overall savings to the Government.
Minister of State for Commerce C R Chaudhary, PHD Chamber of Commerce president Anil Khaitan, General Foreign Trade Director Alok Chaturvedi MAIT VP Harish Krishnan and GeM CEO Radha S Chauhan were among others present on the occasion.
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