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Govt eyeing Rs 50,000-cr of public procurement by means of GeM in FY’20 – Information by Automobilnews.eu

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Govt eyeing Rs 50,000-cr of public procurement by means of GeM in FY’20


Public procurement value Rs 50,000 crore is predicted to happen by means of the commerce ministry’s on-line market GeM throughout 2019-20, an official stated.

In 2018-19, Authorities e-Market (GeM) touched Rs 17,325 crore mark by way of worth of transactions as in comparison with Rs 5,885 crore within the earlier monetary yr and Rs 422 crore in 2016-17.

“We’re focusing on Rs 50,000 crore value of transactions to be carried out by means of this platform in 2019-20,” the official stated.

The ministry launched the GeM on August 9, 2016 with the target of making an open and clear procurement platform for presidency departments, ministries and businesses.

In the meantime, the commerce ministry, in an announcement on Monday, stated 2018-19 has witnessed a multifold enhance in complete worth of transactions on the portal and doubling of variety of sellers on the market.

It stated over two lakh sellers are providing greater than eight lakh merchandise on this platform.

It added that coaching of over 1.three lakh consumers and sellers has been performed throughout 28 states and Union Territories to allow them function the platform seamlessly.

“MoUs have been signed with 12 banks for fee integration to facilitate a cashless and paperless fee system on the platform,” the ministry stated.

Public procurement of the Central and State governments runs into over Rs 2 lakh crore yearly.



Govt eyeing Rs 50,000-cr of public procurement by means of GeM in FY’20 – Information by Automobilnews.eu
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