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GeM eyes procurement of ₹2 lakh crore in FY23

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Authorities e-Market (GeM), a nationwide procurement portal, is eyeing annual procurement price ₹2 lakh crore throughout FY23, following a buoyancy in its adoption, mentioned Prasanth Kumar Singh, CEO. 

“Within the first 4 months of the present fiscal, we did a gross merchandise worth (GMV) of ₹60,000 crore and therefore, ₹2 lakh crore is achievable,” he mentioned in an interview.  

Whereas terming the expansion of public procurement as phenomenal, he mentioned since inception, it took nearly four-and-a-half years to succeed in the primary ₹1 lakh crore (March 2021), whereas within the final fiscal, the GMV was ₹1.70 lakh crore. The cumulative GMV until date is ₹2.86 lakh crore.

In accordance with him, it was as a result of enormous participation by patrons of Central/State governments, Central/State PSUs and MSEs. It was within the ratio of 30%, 30% and 40% respectively.

By the way, it’s necessary for Central authorities and PSUs to make procurement by GeM.

Nonetheless, Mr. Singh mentioned that the participation of southern States in GeM was decrease, as they’d their very own portal and felt opening their doorways [to GeM] can be detrimental to the sellers within the state. 

“Tamil Nadu and Karnataka are progressive States and have their very own portals. The portals are dated. They don’t have market like GeM. It doesn’t have visibility and the sellers don’t get higher pricing for the merchandise,” he mentioned.

GeM officers have initiated talks with 11 State authorities officers to allay their fears and in addition inspire and educate MSEs by seminars and programmes.

Moreover, assist desk has been created in regional languages to help MSEs. Work is on to offer phrases and situations and FAQs in main regional languages.  

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“We’re right here to develop the seller base on GeM and assist the MSEs enhance their market entry and to get a larger share within the public procurement thereby boosting the economic system of the State,” he mentioned. 
Quoting statistics, Mr. Singh mentioned Uttar Pradesh topped the listing in procurement with ₹11,000 crore, adopted by Gujarat, Maharashtra, Madhya Pradesh, Bihar and Odisha. The cumulative procurement by Tamil Nadu since inception was ₹1,090 crore.
Although there are a number of comparable portals throughout the globe, GeM, inside a short while, has reached fourth spot with a GMV of $28 billion. The highest three portals are from Korea, the U.S. and Singapore. 

“Our aim is to succeed in $30 billion. States like U.P. can do procurement of greater than ₹50,000 crore and with the lively participation of different states, we will do it simply,” he mentioned. 

By- The Hindu

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