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GeM pegs defence procurement to reach Rs 30,000 cr this year: Official

Public procurement portal Government eMarketplace projects defence procurement made through it to double to Rs 30,000 crore during the current financial year, a top official said here on Friday. According to GeM Chief Executive Officer P K Singh, the procurement agency expects to garner about Rs 2 lakh crore sales in the year across the country. The GeM portal launched by the Centre in 2016 is for online purchase of goods and services by all central government ministries and departments. "Defence sector has been the largest procurer through the portal since inception. Last year, the defence procurement was around Rs 15,000 crore. The target is to double it to Rs 30,000 crore this year," he told reporters here. "Apart from weaponry, everything for Defence is done by GeM," he said. Singh, an IAS officer of the Manipur cadre, said the procurement portal achieved overall sales of Rs 1.06 lakh crore last year. "This year, we are expecting to reach Rs 2 lakh crore post the COVID-19 ...

National flags worth over Rs 6 cr procured via GeM portal in last 6 weeks

More than 2.36 cr national flags worth over Rs 6 cr were procured by different government departments and states from public buying portal GeM from July 1 - August 15, according to an official data

GeM-SAHAY: Providing marginalised access to frictionless working capital

The Government eMarketplace (GeM) was integrated with SAHAY to launch the GeM-SAHAY app in May 2021 to address the credit availability challenges faced by sole proprietors on GeM

Need to make our banks key part of global trade: PM Narendra Modi

Modi said India has developed various financial inclusion platforms and there is a need to create awareness about them for their optimum utilisation

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

The decision is expected to help cooperatives in getting competitive prices through an open and transparent process

Cabinet allows procurement by cooperatives through GeM portal

The move will help over 8.54 lakh registered cooperatives and their 27 crore members as they would get products at competitive rates from the GeM portal.

Centre to rate PSUs on capital mgmt, investor concalls among new parameters

PSUs also have to comply with asset monetisation targets set collectively by their administrative ministry

Public procurement from GeM portal crosses Rs 1 trillion-mark this fiscal

Procurement by central public sector enterprises (CPSEs) rose multifold to about Rs 43,000 crore

PM hails Government e-Marketplace achieving order value of Rs 1 trn in a yr

PM Modi on Thursday hailed the govt procurement portal GeM achieving an order value of Rs 1 trillion in a single yr and said the platform is especially empowering the MSMEs.

India-dedicated funds see outflows of $417 million in July

Flows from global emerging market funds into India amounted to $459 million, led by non-ETF inflows of $318 million, taking the total inflows in CY21 to $5.6 billion.

Government e-Marketplace says it's exploring ways to bring works on portal

Public procurement portal GeM has come out with an approach paper for stakeholder consultations as it is exploring ways to bring works on the platform with an aim to further widen its scope

GeM completes work for creation of unified procurement system: CEO

GeM CEO Talleen Kumar said that a function of ''custom bid'' has also been created on the platform

GeM has potential to handle transactions up to $100 bn per annum: Official

"The present version of GeM will be upgraded after enhancing the system and a unified procurement system will be put in place," Kumar said

Budget 2020: Govt looks to increase turnover of GeM portal to Rs 3 trillion

The minister also proposed to provide about Rs 27,300 crore for development and promotion of industry and commerce for 2020-21

Govt plans centralised purchase for Ayushman; medical devices on GeM soon

The idea is to procure essential medical devices such as cardiac stents at a lower cost

Odisha small scale units fear 300,000 job losses over switch to GeM

The rate contract system has proven to be a time tested process of procurement of quality goods at a reasonable price and within the stipulated time frame

GeM, MyGov platforms should provide opportunity for start-ups: IT secy

Electronics and IT secretary Ajay Prakash Sawhney Monday said the government's MyGov and e-commerce platform GeM should provide an opportunity to start-ups so that country is able to develop homegrown solutions. "The combination of what MyGov and GeM (Government e-Marketplace) together can do is something extraordinary. Innovation is far more difficult than simply consuming ready-made products. Let's create opportunity for start-ups, to showcase their products, actually use their products on GEM and then GEM itself becomes an extraordinary opening market for start-ups," Sawhney said. He was speaking at an interactive session on 'Language Localisation & CRM Services on GeM', organised by FICCI and GeM. He said that GeM opens a window of sellers to reach out to government departments which will be big support for start-ups and gradually India will be able to develop home-grown solutions. Sawhney said that language localisation was the key to capitalise on the opportunities in open ..