Government E-Marketplace Opens Doors to 1 Lakh Startups for Government Contracts
GeM has facilitated startups in garnering a revenue of over Rs 29,000 crore from government orders. MSME registration under GeM has only added to the mushrooming of such ventures.
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The public procurement platform of India, the Government e-Marketplace, is planning to include 100,000 startups under its system. This will make small businesses participate in government tenders. Most startups fail to qualify for the usual conditions of turnover or experience. GeM will relax the conditions so that more and more startups can participate.
Right now, there are 26,500 startups on GeM. The DPIIT already identifies these startups. Ajit B Chavan, Additional CEO of GeM said, "We aim to include all DPIIT-approved startups on GeM."
MSME Registration and Benefits
GeM also helps MSMEs. MSMEs account for 39% of all the orders that come to the platform. The company has reduced the transaction charges for them. Translations up to Rs. 10 Lakhs are now free. This is helpful for both MSMEs and Startups who do more business with the Government.
GeM has facilitated startups in garnering a revenue of over Rs 29,000 crore from government orders. MSME registration under GeM has only added to the mushrooming of such ventures.
Boosting 'Make in India'
The portal also promotes the 'Make in India' campaign. In 2020-21, 39% of bids on GeM were for 'Make in India' products. Presently, it has reached 81%. This implies that increasing numbers of government buyers are preferring local products.
Since its inception in 2016, GeM has logged over Rs 10 lakh crore worth of purchases. It stands second only to South Korea's KONEPS among government procurement platforms in the world.
GeM works in favour of MSMEs and start-ups. Motivating MSME registration supports local businesses and boosts the Indian economy. A supportive platform, it helps new businesses grow and thrive with innovation.
GeM fits into India's agenda of planning to become more competitive in the global market. Supporting MSMEs and startups is in line with the larger goals of growth and self-reliance for the country.
About the Author
Mahek Sancheti
Content WriterMahek Sancheti, BAJMC graduate with a deep passion for writing. As a content writer, video content creator, creative content creator, and scriptwriter, I bring stories to life through words and visuals. I honed my skills by working with a prominent news agency, where I excelled in crafting compelling narratives and engaging content. Coming from a journalism and mass communication background I have skills to craft engaging narratives that captivate audiences. With a keen interest in writing and creativity, I aim to deliver impactful and meaningful content that resonates with diverse audiences.
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