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What is Government e Marketplace mean?
Government e Marketplace (GeM) is an online platform for public procurement in India. The initiative was launched on August 9, 2016 by the Ministry of Commerce and Industry, Government of India and Modi government with the objective to create an open and transparent procurement platform for government buyers. It was created in a record time of 5 months to facilitate online procurement of Goods & Services. The purchases through GeM by Government users has been authorized and made mandatory by the Ministry of Finance by adding a new Rule No. 149 in the General Financial Rules, 2017.The platform is owned by GeM SPV (Special Purpose Vehicle) which is a 100 per cent Government-owned, non-profit company under the Ministry of Commerce and Industries, Government of India.
GeM is a contactless, paperless and cashless online marketplace that replaced the Directorate General of Supplies and Disposals (DGS&D) in 2016. Since its inception, GeM has brought in the visibility and transparency in public procurement. The portal has transformed public procurement in India by driving its three pillars, namely, inclusion, usability and transparency and efficiency and cost savings. According to an independent assessment made by the World Bank, average savings for buyers in Government e Marketplace portal is about 9.75% on the median price. The Government of India has made it mandatory for sellers to display the 'country of origin' on products to be sold on GeM portal.
The present Chief Executive Officer of Government e Marketplace is Sh. Prashant Kumar Singh, an IAS officer of 1993 batch of Manipur cadre.
referencePosted on 14 Sep 2024, this text provides information on Miscellaneous in Governmental related to Governmental. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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