Q. Why is this in news?
A. Government e-Marketplace achieves a Gross Merchandise Value (GMV) of Rs. 1.5 Lakh Crores.
- GeM has been effectively contributing to the government’s commitment of “Minimum Government, Maximum Governance”.
Q. What is Gross Merchandise Value (GMV)?
- GMV refers to the value of goods sold via customer-to-customer or e-commerce platforms.
- It is calculated prior to the deduction of any fees or expenses.
- It is a measure of the growth of the business or use of the site to resell products owned by others through consignment.
Q. What is the Government e-marketplace (GeM)?
- The GeM is an online platform launched by the Ministry of Commerce and Industry, Government of India in 2016 to facilitate procurement of goods and services by various government departments and organisations.
- It is open to all government departments, public sector undertakings, autonomous bodies and other organisations.
- Currently, GeM stands at the third position after Singapore's GeBIZ.
- South Korea's KONEPS is the largest such platform in the world.
- Boost to Digital Economy:
- The e-marketplace can promote the use of technology in government procurement processes, contributing to the growth of India's digital economy.
- In the last 6.5 years, GeM has revolutionised the ecosystem of public procurement in the country through technology, the digitization of processes, the digital integration of all stakeholders, and the use of analytics.
- Improved vendor participation:
- GeM can encourage more vendors, including small and medium enterprises, to participate in government procurement processes, leading to increased competition and better value for money for the government.
- Transparency and Efficiency:
- A government e-marketplace can improve the transparency and efficiency of procurement processes by standardising and automating procedures, reducing the scope for corruption and human error.
- Last Mile Outreach: GeM has integrated with 1.5 lakh+ India Post offices and 5.2+ lakh Village Level Entrepreneurs (VLEs) via the Common Service Centres for last-mile outreach and service delivery.
- Country of Origin Mandatory: Every time a new product is registered on GeM, sellers are required to list the Country of Origin.
- Bamboo Market Window: The National Bamboo Mission and the Government e-Marketplace (GeM) have collaborated to have a dedicated window on the GeM portal for marketing of the Bamboo Goods (Bamboo based products & Quality Planting Materials).