GeM in 2020: Govt’s purchase of goods from MSMEs crossed Rs 74.5k cr in value, says Commerce Ministry

By: |
December 30, 2020 8:33 PM

Ease of Doing Business for MSMEs: Financial Express Online had recently reported that the average daily order value for GeM increased 282 per cent from Rs 34.12 crore in April 2020 to Rs 130.53 crore in October 2020.

MSME, dues clearance, ECLGS, credit guarantee schemeGeM added over 1 lakh sellers in November 2020 itself.

Ease of Doing Business for MSMEs: The total transaction value on the government’s public procurement portal Government eMarketplace (GeM) has crossed Rs 74,552 crore as of December 30, 2020, Commerce Ministry said on Wednesday sharing major highlights of the Department of Commerce in 2020. The marketplace has 17.6 lakh listed products, 9 lakh sellers and service providers, and 11,543 product categories “promoting transparent public procurement while giving a fair opportunity and level playing field to vendors,” it said in a statement. The Modi government had launched the GeM marketplace on August 9, 2016, to enhance speed and transparency in the government buying process to benefit small businesses.

Financial Express Online had earlier in December 2020 reported that GeM saw the average daily order value increasing 282 per cent from Rs 34.12 crore in April 2020 to Rs 130.53 crore in October 2020, as per the data tweeted by GeM on December 4. “GeM was started with an objective to transform the legacy procurement system in the country. A rapid growth in Avg Order Value per day in the current FY 2020-21 is showing the higher acceptability of the platform for procurement purpose,” GeM had tweeted. The marketplace was able to add 40,212 new sellers on an average per month and 486 new product categories per month in 2020, according to data shared by the portal. In fact, it added over 1 lakh sellers in November itself, registered under Udham Aadhaar under the Ministry of MSME.

Also read: The year that was: The biggest newsmakers of India’s glamourous tech, startup ecosystem who defined 2020

However, the order value of Covid-related products had declined significantly in November after peaking in October since March 2020. The government’s purchase of such goods including medical and auxillary products through GeM stood at Rs 389.4 crore in November down 61 per cent from Rs 996.9 crore in October, based on the analyses of the data sourced from GeM. The government had enabled the procurement of medical and auxillary goods via GeM to cater to the immediate need of ventilators, Covid kits, and masks amid the initial shortage of such products and spiraling Covid cases post-February.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1BigBasket aims to go public in coming years, says co-founder & CEO Hari Menon
2PM Modi announces Rs 1,000-crore seed fund for startups
3PM Modi announces Rs 1,000 crore Startup India seed fund, launches weekly TV show Startup Champions