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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