GeM: Revolutionizing Public Procurement with Transparency & Inclusion

Government e-Marketplace (GeM) introduced in 2016 as a revolutionary system within the Indian public procurement framework to create transparent, efficient and inclusive services for procurement. Through its infrastructure the platform allows government buyers to perform easy procurement activities that benefit both domestic enterprises and local start-ups and entrepreneurs as well as micro small and medium-sized businesses. Through strategic initiatives like SWAYATT, Startup Runway 2.0, and Womaniya, GeM fosters economic growth and social equity. Through its online platform GeM enables fair market competition and expanded access to purchasing opportunities for disadvantaged groups which has significantly strengthened India's economy.

GeM: Mission 

Core Principles of GeM:

• Open market: Easy market data availability combined with transparent pricing is ensured by this principle.

• Fairness: Offers a level playing field to all sellers, irrespective of size.

• Inclusiveness: By welcoming every government buyer and seller the system helps marginalized communities take part in purchasing and selling activities.

Key Initiatives for Economic Growth:

• Swayatt: SWAYATT creates businesses-friendly conditions and helps establish market connections between startups and women entrepreneurs as well as MSMEs and self-help groups (SHGs).

• Startup Runway 2.0: Bootstrap Runway 2.0 builds a specific marketplace for startups to present innovative products to government purchasers through its platform.

• Womaniya: Through Womaniya the platform promotes women entrepreneurs to sell their products while fulfilling government procurement reservations for women MSMEs.

• SC/ST Entrepreneurs & MSMEs: Ensures 25% procurement from MSMEs, with a sub-target of 4% for SC/ST entrepreneurs.Saras: Through The Saras Collection customers can explore handcrafted items from Self-Help Group members in order to support local artisan craft producers who work in rural areas.

Statistical Impact:

• Startups have completed orders worth ₹35,950 Crore through their operations.

• Women entrepreneurs comprise 8 percent of the seller base on GeM while generating order value worth ₹46,615 Crore.

• The financial year turnover for GeM reached ₹4,03,305 Crore.

• MSEs contribute a major portion of 37.87% to the entire value of orders placed through the platform.

Conclusion

GeM has transformed Indian public procurement through its mission to create efficient procurement processes with transparency and broad participation of businesses. The platform enables economic development while advancing social fairness because it dedicates itself to helping startups along with women business owners and underserved populations. GeM's strategic programs function to establish fair market opportunities while enhancing innovation thus positioning itself as a crucial instrument for India's development of an open competitive procurement system. GeM continues to be the foundation of sustainable and inclusive economic development as it advances.