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e-Market procurements surpass Rs 2 lakh crore – Times of India


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MUMBAI: The procurement of products and providers by means of Authorities e-Market (GeM) has surpassed Rs 2 lakh crore within the monetary 12 months 2022-2023 with commerce and trade minister Piyush Goyal estimating financial savings of account round Rs 39,000 crore by means of using Amazon-like platform for public procurement.
Goyal mentioned the federal government is conducting value checks to make sure that costs on the platform are the bottom and that distributors on GeM don’t promote merchandise cheaper elsewhere.
He added that the creation of {the marketplace} was to additional the Prime Minister’s goal to run authorities departments with the very best ranges of integrity and transparency, with participation from folks from the remotest corners of the nation. It additionally allows ladies entrepreneurs, startups, and the MSME sector to take part in a good and equitable method in authorities procurements.
GeM CEO P Ok Singh mentioned it had invited tenders to construct a platform the place distributors can avail of the most cost effective finance. He mentioned the platform has surpassed the Rs 3.9 lakh crore GMV since its inception in August 2016, with slightly underneath 1.5 crore whole transactions.

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