GeM portal (Government e-Marketplace) is a government-launched online platform via which the government releases bids for various day-to-day needs of government agencies, public sector enterprises, and ministries.
The primary objective and benefits of gem registration of the GeM portal are to increase public procurement transparency, efficiency, speed, and employment. By registering on this site, sellers and buyers can purchase or sell goods to the government.
Government E-Marketplace was established based on the Group of Secretaries' suggestions to the Honorable Prime Minister. In the initial phase, the pilot project for GeM is made available to Central Government Departments and CPSUs in Delhi/NCR.
Based on the lessons learned, the portal will be expanded to other regions of the nation. In addition, a full-fledged version of GeM is expected to be available by March 2017, following a detailed investigation by a consultant and the hiring of a Managed Service Provider (MSP).
By establishing a new Rule No. 141-A to the General Financial Rules, 2005, the Ministry of Finance has already permitted Government users to make purchases via GeM.
Government eMarketplace is a huge platform where merchants advertise their goods and services, and any government department, ministry, or public-sector organization can purchase them.
It functions identically to any other e-commerce marketplace, such as Amazon or Flipkart; however, in GeM, the only buyers are government agencies, and sellers can be registered on the GeM portal.
The GeM registration procedure for companies is simple and streamlined, and there is no registration charge.
However, the government has implemented a plan for monetization that depends on sales volume and service quality.
GeM portal provides some of the most sophisticated B2B eCommerce capabilities, including e-auction, reverse e-auction, market aggregation, stringent quality control, total transparency, and more.
Here are some benefits of gem registration for sellers:
Here are gem registration benefits for buyers:
About 26 percent of registered sellers and vendors on the Government e-Marketplace are MSMEs. The administration hopes and is trying to increase this number following the adoption of the budget.
The online platform seeks to recruit many MSMEs as part of its MSME outreach and assistance campaign.
The government seeks to expand the availability of financing to small and medium-sized enterprises to stimulate and facilitate their participation in GeM. This action is done specifically for startups.
The government e-marketplace is now also focused on service industries such as analytics, inspection, webcasting, and transportation. This government portal is only one indication of how ubiquitous internet buying has become in India.
The government e-marketplace has eliminated time-consuming additional verification layers. This greatly decreases government procurement lead times. Similarly, MSMEs may register quickly and take advantage of these new prospects. In addition, their registration with GeM eliminates the need for intermediaries.
In the preceding two years, the government e-marketplace has provided MSMEs access to more potential suppliers, expanding their market reach.
In addition, GeM has aided in employment creation; the platform has aided in creating and maintaining government positions.
Government e-Marketplace (GeM) was introduced in 2016 to revolutionize public procurement in India. Historically, public procurement was plagued by problems such as lack of transparency, non-standardization of methods, and inefficiency.
As a result, the Government of India intended to construct a transparent and effective digital platform linking merchants nationwide with government purchasers.
With the introduction of GeM, Central Ministries, PSUs, and companies have access to millions of Indian vendors. Currently, approximately 38 million vendors and service providers are registered on GeM.
A technology-enabled platform like GeM does not need registration or bidding fees, allowing buyers to register in minutes and then explore the portal's products and services. Here are several reasons YOU should purchase on GeM:
All GeM processes are digital, and manual interaction is not required. It includes a free registration option, allowing all government buyers to use the portal without difficulty.
It requires no paperwork or human interaction; all required is to register, log in, search, see, compare, and purchase the necessary goods and services.
Every vendor must comply with 'Country of Origin,' which requires them to demonstrate that all substances used in producing goods or services are of Indian origin. This helps us achieve our goal of becoming "Aatmanirbhar Bharat."
With vast goods and services available, picking the one that best meets your needs is simple. The catalogs accessible to all purchasers on GeM are based on golden parameters, which facilitate search, selection, and cost evaluation.
Since a huge and comprehensive listing is available, you may search and compare items and services using various criteria, such as financial, administrative, and technological characteristics.
The state-of-the-art portal is developed with the most up-to-date technology and is expandable on the cloud. Advanced use cases are further enhanced by artificial intelligence and machine learning technologies. The site is accessible 24 hours a day, seven days a week, for transactions between buyers and sellers.
To ensure consumer satisfaction with the products and services obtained, GeM has implemented procedures such as vendor evaluation, market sanitization, etc., to guarantee quality products and services reach its customers, leaving no room for low-quality items.
In addition, after verification, including evaluation of quality and quantity, you must produce an online digitally signed Consignee's Receipt & Acceptance Certificate for that step within 10 days of the day you issued the Provisional Receipt Certificate (PRC).
In GeM, bids may be produced and published in record time. The buyer can choose the delivery period based on his needs. During the Corona crisis, GeM lowered the bid and delivery period for Covid items such as oxygen kits, cylinders, and concentrators.
There is no human involvement in ordering products or services online or producing contracts. GeM enables you to acquire based on your determined choice and requirements without involving a third party. The entire procedure is conducted online and without paper and can be followed on the portal.
As part of the payment system, GeM has integrated with Banks (Gem Pool Accounts – GPA), allowing you as a buyer to execute online payments.
In addition, GeM has been connected with CPSUs and PSUs, allowing them to keep their ERPs up to date about GeM procurement information. All of this occurs without human interaction, which greatly assists purchasers.
The goal of GeM is to make purchasing simple for you. You, as a buyer, have access to a personalized dashboard loaded with all contemporary features. You may use the dashboard to keep track of supply, payments, and procedures in general.
As you can see, GeM is the platform for all government buyers and sellers to transact business. GeM has made all government purchases easy and efficient and there are many gem registration benefits. I hope this will prove beneficial for you in the future and if you have any queries, please feel free to ask.
Good luck with your future endeavors!