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  • DAILY CURRENT AFFAIRS:Union Cabinet allows procurement by Cooperatives through Government e-Marketplace

Union Cabinet allows procurement by Cooperatives through Government e-Marketplace

Tags: National Economy/Finance

The Union Cabinet on June 1 approved a proposal allowing cooperatives to sell products on the Government-e-Marketplace (GeM) platform.

  • Currently , registration of cooperative societies as buyers was not included in the existing mandate of Government e-Marketplace (GeM).

  • The Ministry of Cooperative will decide on the valid list of cooperatives to be included on GeM.

  • GeM will provide a dedicated onboarding process for cooperatives.

  • Significance of the move

  • This move will help 8.54 lakh registered cooperative societies like Amul and IFFCO and their 27 crore members, as they will get products from GeM portal at competitive rates.

  • Micro and medium small scale industries will get buyers and it will boost the prospects of Vocal for Local and Self-reliant India.

  • With the opening of the GeM portal, Self Help Groups, MSMEs and small businesses have benefited greatly.

  • About Government-e-Marketplace (GeM) platform

  • Launch -  9 August 2016

  • Purpose  - to bring transparency and efficiency in the government buying process

  • Nodal Ministry  -  Ministry of Commerce and Industry

  • GeM works on inclusion, transparency and efficiency

  • Who registered on GeM - Artisans, weavers, SHGs, startups, women entrepreneurs & MSMEs are registered on GeM

  • The portal is open for - all government buyers, Central and State Ministries, departments, public sector enterprises, autonomous institutions, local bodies, etc

  • Private buyers cannot buy on the platform but private people can sell products to government bodies by the portal.

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