New Delhi: The Minister of Commerce and Industry, Piyush Goyal, said yesterday that the Government e-Marketplace (GeM) Special Purpose Vehicle (SPV) has been established as the National Public Procurement Portal to facilitate procurement of goods and services required by Central and State Government organizations.
The key features of the marketplace are end-to-end procurement platform for products and services, online validations, inclusiveness and openness, transparency, and enabling of direct purchase, e-bidding, and reverse auction modes of procurement. GeM also does not charge a registration fee or listing fee.
GeM has signed a Memorandum of Understanding (MoU) with Canara Bank and Indian Bank on 31 October 2019 which provides for the establishment of an online banking facility and services from collection and transfer of funds to services like GeM Pool account, ePBG, EMD and payment gateways. As on 27 November 2019, there are 40,626 registered buyer organisations, and 3,03,151 registered sellers and service providers.
Goyal provided an account for the outcome in terms of volume of procurement through GeM as on 27 November 2019. The data shows that orders worth a total value of Rs 34,968 crore have been made through direct purchases, e-bidding, and reverse auctions on the GeM portal.
This information was given by the Minister of Commerce and Industry, Piyush Goyal, in a written reply in the Lok Sabha on 4 December.
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