Co-op societies can now procure goods from public procurement portal GeM

The Union Cabinet on Wednesday expanded the scope of the public procurement portal Government e-Marketplace (GeM) to allow cooperative societies to register as buyers.

The decision is expected to help cooperatives in getting competitive prices through an open and transparent process. An official statement said that more than 8,54,000 registered cooperatives and their 270 million members will be benefitted.

“Since the societies have more than 270 million members, procurement through GeM will not only economically benefit the common man, but it would also enhance the credibility of the cooperatives,” the statement said.

Presently, the registration of cooperatives as “buyers” was