Government Sets Up e-Marketplace For Ministeries "The GeM would be dynamic, self-sustaining and user-friendly," says Ministery.

By Ritu Kochar

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

On the request of Commerce Department, the Finance Ministry has given a nod to creation of 'Government e-Marketplace'.

This one stop Government e-Marketplace (GeM) will be created by Directorate General Supply and Disposal (DGS&D) for online purchase of commonly used goods and services by various central government ministries and departments.

A new provision in the General Financial Rules (GFR) has been added for this e-Marketplace. As per the guidelines, the procuring authorities will satisfy themselves that the price of the selected offer is reasonable.

"The DGS&D will host an online Government e-Marketplace for common use goods and services. The GeM would be dynamic, self-sustaining and user-friendly. DGS&D will ensure adequate publicity, including periodic advertisements in newspapers of the GeM and the items to be procured through GeM, for prospective suppliers," Finance Ministry said in a statement.

The GeM may be utilised by government buyers (at their option) for direct online purchases. In the first phase, two items are being included. These are Computers & Vehicle management (Taxi) service which are used by various Government Ministries/Departments/Organizations.

Purchases up to Rs 50,000 can be made from any of the available suppliers on the GeM, meeting the requisite quality, specification and delivery period.

Above Rs 50,000, the criterion of the lowest price among available suppliers on the GeM has to be followed.

The GeM will also provide tools for online bidding and online reverse auction which can be used by the purchaser. The move is based on a suggestion by the Ministry of Commerce and Industry.

(With inputs from PTI)

Ritu Kochar

Former Staff, Entrepreneur India

Ritu used to work as a Feature writer for Entrepreneur India.

Related Topics

Business Plans

10 Simple Tips to Write a Successful Business Plan

In the new book "Write Your Own Business Plan," business expert Eric Butow takes the anxiety and confusion out of planning and offers an easy-to-follow roadmap to success.

News and Trends

FlexifyMe Raises $1 Million In Seed Funding

The funds will be used to further enhance the AI motion coach, making it available in local languages, and expanding the platform's reach in the MENA and North American regions

Entrepreneurs

3 Things Anupam Mittal Looks At Before Investing In A Company

If you want to commit to entrepreneurship, you have to commit to a very long-term game, he says

Business News

Costco Is Now Offering an Additional Exclusive Perk to Members in All 50 States

Members can now access discounted outpatient medical care through a partnership with healthcare startup Sesame.

Devices

Start a New Hobby with Nearly Half Off This 4K Drone

Get a 4K drone with easy piloting assistance for less than $100.

Business News

Dads Who Do This Simple Activity With Their Kids for 10 Minutes a Day Are More Likely to Raise High Achievers

The straightforward approach can give children an advantage over their peers.