Goods Procurement

Government's procurement portal GeM is conducting registration and onboarding drive for participating Indian sellers and service providers at the India International Trade Fair, an official statement said on Monday. The Government e-Marketplace (GeM) is an online platform that facilitates end-to-end procurement of goods and services by various central, state ministries, departments, organisations, public sector undertakings, panchayats, and cooperatives. The online portal was established with a clear objective to eliminate cumbersome and archaic manual public procurement processes that were riddled with inefficiencies and transparency-related issues. GeM is onboarding the Indian sellers and service providers by conducting an extensive registration drive at its pavilion at the India International Trade Fair (IITF), the commerce ministry said. The government's procurement through the portal has crossed Rs 3 lakh crore so far this financial year. Higher buying activities by various .

Various industry associations and chambers of commerce must stridently demand implementation across all levels and come up with their own impact analysis of these reforms

With the procurement of goods and services through government's portal GeM crossing Rs 1.24 lakh crore in first quarter of 2024-25, the platform will become world's largest by the end of this fiscal, a senior official said on Thursday. The Government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all central government ministries and departments. "GeM has clocked a gross merchandise value of Rs 1,24,761 lakh crore at the end of first quarter, representing a quarter-on-quarter growth of 136 per cent over last year's Rs 52,670 crore," GeM CEO Prashant Kumar Singh told reporters here. He said that going by this pace, it will become the world's largest platform. South Korea's KONEPS is the largest such platform in the world. GeM stands at the second position. It is followed by Singapore's GeBIZ. He added that the procurement by central ministries including CPSEs surpassed Rs 1 lakh crore milestone in this period with ministries of c

Goods, services worth over Rs 4 trillion procured in FY24

The government on Wednesday said Coal India Ltd (CIL) has maintained the top position among all Central Public Sector Enterprises (CPSEs) in Government e-Marketplace (GeM) procurement. GeM is an online platform for public procurement in the country. As on February 14, 2024, the procurement through GeM has soared to Rs 63,890 crore, which is 300 per cent of the annual target of Rs 21,325 crore, the coal ministry said in a statement. "The ministry of coal has achieved a remarkable milestone in Government e-Marketplace (GeM) procurement, surpassing its target for the fiscal year 2023-24," it said. "The significant increase in GeM procurement not only highlights the ministry's dedication but also underscores the robust collaboration and contributions from coal PSUs. "Their proactive involvement has been instrumental in driving GeM procurement success story, further solidifying their position as key stakeholders in India's coal sector," the ministry said.

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The procurement of goods and services from the government portal GeM is expected to touch Rs 3.5 lakh crore by the end of this fiscal due to higher buying activities by various ministries and departments, a senior government official said. The government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all the central government ministries and departments. "As of today, the procurement has reached Rs 2.4 lakh crore and going by the trend, the procurement this fiscal will reach close to Rs 3.50 lakh crore, hopefully," GeM CEO P K Singh told reporters here. In 2021-22, the procurement value stood at Rs 1.06 lakh crore. It crossed Rs 2 lakh crore last year. Singh said that the share of central public sector enterprises (CPSEs) in the total buying of goods and services is increasing at a healthy rate. More than 245 CPSEs, including Coal India, SAIL, NTPC and SBI, are participating in the process. The top five undertakings that are ..

Strategic use of government purchases is the need of the hour if India is to achieve manufacturing success

The Nagaland Assembly on Tuesday passed two bills that seek to revise taxes on motor vehicles and goods transported in them. Another bill was for amending an Act to include various new subjects to be taught in the North East Christian University. The Bills were introduced on September 11, the first day of the monsoon session. Chief Minister Neiphiu Rio, who also holds the transport department, said the motor vehicles tax for transport vehicles was last revised in 1999 and for private vehicles, the same was done in 2009. The tax rate prevalent in Nagaland is low as compared to other states in the country, Rio stated adding that the hiring charges for transport vehicles have significantly increased and the road conditions too have improved over the years. Taking into account the rise in price and to improve the financial health of the state, he said the government proposes for revision of the Motor Vehicles Tax by amending the Act. The Nagaland Motor Vehicles Taxation (Amendment) B

Procurement of goods and services from government portal GeM is likely to cross Rs 50,000 crore during April-June this fiscal due to higher buying activities by different ministries and departments, a senior official said on Thursday. The Government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all the central government ministries and departments. "We have already done Rs 43,000 crore in the last 76 days and it would cross Rs 50,000 crore in the first quarter," GeM CEO PK Singh said. In 2022-23, procurement of goods and services from the portal crossed Rs 2 lakh crore. In 2021-22, it was Rs 1.06 lakh crore. The top states that are buying from the portal include Gujarat, Uttar Pradesh, Maharashtra and Madhya Pradesh. GeM has over 63,000 government buyer organisations and over 62 lakh sellers and service providers offering a wide range of products and services. Currently, government departments, ministries, public sector units,

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GeM Sahay to provide short-term loans to all sellers

The Bhupesh Baghel government had announced in July procuring arhar, urad, and moong at MSPs. Farmers will get Rs 6,600 per quintal for moong and urad, and Rs 7,755 per quintal for arhar.

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The government and PSUs procure goods and services worth over Rs 5 trillion every year