Ease of Doing Business for MSMEs: Launched in August 2016, GeM currently has 40 lakh sellers and nearly 60,000 buyers with 97.52 lakh orders processed with a transaction value of Rs 2.20 lakh crore so far.
Ease of Doing Business for MSMEs: Hailing growth in public procurement from small businesses via the government eMarketplace (GeM) portal, Prime Minister Narendra Modi on Sunday said close to 1.25 lakh small entrepreneurs, small shopkeepers across India have sold their goods directly to the government. In his monthly radio programme Mann Ki Baat, PM Modi said small entrepreneurs are playing a major partnership role in government procurement through GeM. “During the last one year through the GeM portal, the government has purchased items worth more than one lakh crore rupees.”
There was a time when only big companies could sell goods to the government, however, the country is changing now and the old systems are also changing, he said, adding that “now even the smallest of shopkeepers can sell one’s goods to the government on the GeM Portal – this is the New India.”
The Prime Minister on Thursday as well had tweeted of Rs 1 lakh crore worth goods purchased by the government through GeM in the current financial year. “This is a significant increase from previous years. The GeM platform is especially empowering MSMEs, with 57 per cent of order value coming from MSME sector,” he tweeted.
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The Rs 1-lakh-crore order value milestone on GeM has come amid India’s achievement of record $400 billion exports in the current FY, up 37 per cent from $292 billion in FY21, according to the government data. Importantly, nearly half of India’s exports come from the MSME sector which the government intends to take to 60 per cent by FY25.
“Basis of its (India’s manufacturing) strength are our farmers, artisans, our weavers, engineers, our small entrepreneurs, MSME sector, people from many different professions. All of them are its true strength. It is only due to their hard work, that the goal of exporting to the tune of $400 billion has been achieved,” said PM Modi. He further urged businesses and individuals to make the local ‘global’ and augment the prestige of the products further.
Launched in August 2016, GeM currently has 40 lakh sellers and nearly 60,000 buyers with 97.52 lakh orders processed with a transaction value of Rs 2.20 lakh crore so far, as per the data available on the portal. While it took four-and-a-half years (August 2016 – February 2021) for the marketplace to hit the Rs 1-lakh-crore mark in transaction value, the second Rs 1-lakh-crore mark was achieved in the following 12 months.