All that you need to know about Government e-Marketplace GeM
It is beyond any doubt that the government has introduced numerous measures in recent years in order to boost the overall ease of doing business in India. It has assisted the small traders and manufacturers in excelling in today’s competitive globalized economy.
To empower small traders and manufacturers, the Indian Government launched transparent e-Marketplace popularly known as GeM.
Any small trader or manufacturer can get a GeM registration for its business easily. A business can then access the wide interface to sell its products and services to the distinguished buyers from Government sector or PSUs, where there is a huge requirement for such supplies.
1. What is GeM?
The Government e-Marketplace (GeM) is a basically an e-commerce portal operated by the Government of India. It is an online platform where sellers and government buyers meet to facilitate the procurement of Goods & Services that required by different Government Departments, Organizations and the Public Sector Undertakings.
2. Which law had brought in GeM?
The government had established the GeM portal in 2017 under the Allocation of Business Rules, 1961.
3. What is the main objective behind the GeM?
The key goal behind the beginning of the GeM is to guarantee transparency, effectiveness, and swiftness in procuring supplies.
4. What are the benefits of Sellers GeM Registration?
By obtaining the GeM Registration, you can truly enjoy the following benefits of smarter trade & commerce as proposed by the government-
Direct Sell: This feature helps the private traders to sell their products of value up to ₹50,000/- at a fair price directly to the government buyers without any hassles.
Assistance to small traders: The traders having GeM registration can take benefit from various trade avenues such as e-bidding, reverse e-auction and demand aggregation.
5. What are the benefits for government buyers with GeM Registration?
GeM has indeed numerous benefits for the buyers from the Government sector.
Some of them are-
E-bidding, which ensures transparent and fair auctioning of goods & services.
Reverse e-auction and
Demand aggregation which enables the government to get the desired goods for their spending.
6. What are the benefits for Startup under GeM Registration?
While doing registration on GeM portal, there is an option available for registering your organization like a startup on GeM. The government gives priority to the new entrants in trade.
DPIIT Recognised Startups gets following additional benefits over other private traders and manufacturers:
Startups are exempted from otherwise stringent selection criteria such as Prior Experience and Prior Turnover Proof. Read
Relaxation on Earnest Money Deposits. No bid security to be obtained from MSMEs and Startups. Read
The chance to work on trial orders with the Government, making them more likely to take chances on a new product.
Buyers can rate your product or service on GeM. Given the large scope of public procurement, this can help you to finetune and adapt your product for scale.
No more restrictive categories on GeM, meaning that new & innovative products to be published on the platform.
If you need any sort of guidance on GeM registration, feel free to contact our business advisors at 8881-069-069.
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