Survey, Retail News, ET Retail

Survey, Retail News, ET Retail

New Delhi: Wholesome development in procurement of products and providers by central and state governments by way of the GeM portal helps the platform meet up with international competitors e-commerce giants like Amazon and flipkart, the Financial Survey mentioned on Tuesday. This Government e-Market (GeM) It was carried out by the portal on August 9, 2016. Ministry of Commerce for on-line purchases of products and providers by all central authorities ministries and departments and different establishments, together with public sector items.

The acquisition of products and providers from the portal has exceeded Rs 1 lakh crore as of November 29 of this fiscal yr because of the improve in buying exercise.

“GeM has witnessed great development in gross industrial worth and is catching up with e-commerce giants like Amazon and Flipkart,” the survey mentioned. 160 p.c development over the past fiscal yr (fiscal yr)”.

GeM CEO PK Singh had beforehand said that in accordance with the development, the figures might attain Rs 1.80 lakh crore by the top of this fiscal yr.

The GeM platform has taken a collection of steps to incorporate the merchandise of self-help teams, tribal communities, artisans, weavers and MSMEs.

“Fifty-seven p.c of whole enterprise at GeM got here from MSME items, and ladies entrepreneurs contributed over 6 p.c,” she mentioned.

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