Public Procurement Policy

GeM slashes transaction charges levied on sellers, service providers

Public procurement portal GeM has significantly slashed transaction charges levied on sellers and service providers on its portal, a senior government official said on Friday. Government e-marketplace (GeM) Additional CEO Ajit B Chavan said that this "bold" move was part of the government's 100 days initiative. "Aligning with the government's ongoing commitment to foster ease of doing business and build a more inclusive economy, Government e-Marketplace has recently announced a significant reduction in the transaction charges levied on sellers, service providers transacting on its platform," he told reporters here. Accordingly, GeM has announced a New Revenue Policy of the portal with effect from August 9. As per the new policy, all orders valued up to Rs 10 Lakh will now attract zero transaction charges, as opposed to the earlier order value ceiling of Rs 5 lakh. "Orders above Rs 10 Lakh up to Rs 10 crore will be levied transaction charges worth 0.30 per cent of total order value

GeM procurement hits Rs 1.24 trn in Q1, set to be world's largest in FY25

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

Public procurement norms: Govt may hike local content requirement

Former industry secretary Ajay Dua said that over time, the minimum threshold had to be increased to promote local industries and increase the contribution of manufacturing to GDP

Procurement through govt's GeM portal crosses Rs 4 trn so far this fiscal

The procurement of goods and services through government's portal GeM has crossed Rs 4 lakh crore so far this fiscal due to higher buying activities by various ministries and departments, a senior government official said on Friday. 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. "As of March 28, the procurement has crossed Rs 4 lakh crore. It is historic," GeM CEO P K Singh told reporters here. In 2021-22 the procurement value stood at Rs 1.06 lakh crore and it crossed Rs 2 lakh crore last financial year. He said that procurement of services from the portal has jumped from Rs 66,000 crore in 2022-23 to Rs 2.05 lakh crore so far this fiscal. Similarly, goods worth Rs 1.95 lakh crore have been bought from the platform till March 28 this fiscal. GeM has over 63,000 government buyer organisations and over 62 lakh sellers and service providers offering a wide range of

Public procurement from GeM portal crosses Rs 90K crore so far this fiscal

Procurement of goods and services from government portal GeM has crossed Rs 90,000 crore so far this fiscal on account of an increase in buying activities by different ministries and departments. 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. "GeM has clocked a gross merchandise value (GMV) of Rs 90,905 crore in the current fiscal (till August 13), which is about 1.8x of what we did in the same period last fiscal," 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 and this year, it may cross Rs 3 lakh crore, he said. He added that the CPSEs continue to lead the way with a GMV contribution of about 54 per cent this fiscal. It was followed by central ministries (26 per cent) and states (about 20 per cent). "States are slow but we are trying hard. We are focusing on 20 states

Public procurement from GeM portal may cross Rs 50,000 cr during April-June

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,

Second round of IPEF negotiation to start in India on Wednesday

India has opted out of the trade pillar as broad consensus had not emerged on issues pertaining to labour, environment, digital trade, and public procurement

GeM public procurement crosses Rs 1 trillion in just eight months

Cumulatively, GeM has surpassed GMV worth Rs 3 trillion since inception and the number of transactions on GeM exceeded 12 million

India opposes group consultation on food subsidies programme at WTO

The members had expressed concern with India's "lack of full transparency" in taking recourse to the Bali Decision as well as in replies to certain questions raised in the Agri Committee

PSUs' buy from small business rose 11% to Rs 41,699 crore in FY21

About 239 of 389 PSUs owned about 1.61 million acres land collectively, the survey showed

CVC withdraws guidelines on public procurement as Centre issues new manual

The move is aimed at having a single authoritative source of reference as procurement executives had complained of problems over the presence of guidelines by multiple organisations in this regard

Explained: What India's shift in stance on public procurement means

India's public procurement market is estimated to be between 20 and 22 per cent of the GDP, or about $500 billion annually.

In a first, India opens up central govt procurement market to UAE

Experts say this may open a Pandora's box with demand for similar commitment

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

Procurement policy needs to cover more ground

The most authoritative aspect of the current notification is that its provisions are now part of the General Financial Rules of the Union of India

A new era in public procurement

The phenomenon of "irrational bidding" exists where the Indian private sector has not distinguished itself in the past

Looking beyond L1

Govt introduces progressive reforms in procurement

FinMin releases revised guidelines ushering in public procurement reforms

The guidelines permit alternative methods for selection of contractors, which can improve speed and efficiency in execution of projects

Domestic, global telecom gear makers spar over new 'value addition' norms

Angry protests by domestic companies force telecom dept to put its formula, welcomed by foreign companies, on hold

Cabinet meet to include works contract under Govt e-Marketplace soon

Sahay initiative will enable small businesses on the portal get loans instantly against orders