Introduction to Government e-Marketplace (GeM)
The Government of India has created the GeM (Government E-Marketplace) platform to introduce transparency to the previous Tender process for government procurement. The major goal of the GeM portal is to improve transparency, efficiency, and speed in both governmental procurement and employment. By registering through this portal, the seller as well as buyer can buy or sell their products to the government.
What is GeM portal?
The Government e-Marketplace (GeM), created in a record time of five months, enables online procurement of common-use goods and services by many government departments, organizations, and public sector undertakings.
The Government e-Marketplace is an e-commerce portal for the federal government. It serves as a one-stop shop for the convenient online acquisition of consumer goods and services required by many government departments. GeM aims to improve public procurement transparency, efficiency, and speed. It offers tools like e-bidding, reverse e-auction, and demand aggregation to help government users get the most value for the money.
Thus, it is a marketplace where buyers and sellers can list their products for direct purchase or auction. Moreover, the department makes contact with the registered person and gives them the bulk order. Through this method, the government has extended its hand to vendors who wish to do business with them to meet the government’s many demands at the lowest cost.
GeM Advantages for Buyers
- Provides a rich listing of products for individual categories of goods/services
- Provides a rich listing of products for certain categories of goods/services
- Enables buying Goods and Services online, as and when required.
- Ensures transparency and ease of purchase
- Maintains a consistent vendor rating system.
- A user-friendly dashboard for purchasing, tracking supplies, and making payments that is always up to date.
- The availability of a simple return policy
GeM Advantages for Sellers
- Direct access to all departments of the government.
- One-stop marketing shop with minimal effort
- One-stop shop for bids / reverse auction on products / services
- Sellers get access to a new product suggestion service.
- Dynamic pricing: The price of a product can modify on market conditions.
- A user-friendly dashboard for selling and monitoring supplies and payments for sellers
- Purchase practices that are consistent and uniform
The buyer can use this portal to search, compare, and choose the best option. User can use filters by entering the product’s specifications, quantities, and other parameters. Likewise, sellers can list their products in accordance with regulatory regulations. Subsequently, prices can adjust in response to changing market demands and conditions. Additionally, the seller can keep track of supply, payments, and product availability. As well as, sellers can also place bids on their products using this platform.
GeM eliminates human intervention in the vendor registration, payment, and order posting processes. Being an open platform, it offers no entry barriers for legitimate providers that want to do business with them. At each stage, purchasers and his association’s president, as well as payment authorities and sellers, receive SMS and e-mail notifications.
Moreover, GeM is a completely secure platform, and all documents on GeM are e-signed by buyers and sellers at various stages. As a result, supplier details are checked online, which aids in improving due diligence regarding the trustworthiness of providers that seek to do business on GeM.
Why opt for GeM registration?
GEM registration allows manufacturers, small dealers, and service providers to gain access to a large and dynamic online platform where they may directly sell their products. Moreover, it also offers services to customers from government agencies, organizations, and PSUs. Meanwhile, it enables authorized governments to purchase goods and services directly from private traders and manufacturers timely and hassle-free.
How GeM is different from Government E-Marketplace startup runway?
The Government e-Marketplace (GeM) is a platform for online procurement. In addition, it is the most used route for public procurement. Small and medium-sized enterprises, startups approved by DPIIT, and other private companies are eligible to register as vendors on the Government E-Marketplace site and offer the specified products and services directly to government departments.
The “GeM startup runway,” is a one-of-a-kind concept launched by the government e-Marketplace in collaboration with Startup India to foster entrepreneurship through innovation. In addition, it is a new effort created by Government E-Marketplace to enable businesses to reach out to the universe of government purchasers by selling innovative, and unique products.
Benefits for DPIIT recognized startups on GeM
- Exemptions from requirements: Startups excludes from stringent selection criteria such as past experience, turnover, and so on.
- Pilot projects: The opportunity to work on government trial orders, making them more willing to take a chance on a new product.
- Buyers can rate the mentioned goods or service on the portal as a feedback instrument.
- Flexibility: It allows for the selection of a wide range of products, all of them which must be innovative to get published on the platform.
Egniol Services is a leading consulting firm – GeM Portal Registration services provider & best consultants in Ahmedabad, Gujarat. We offer a step-by-step registration process for new vendor registration on GeM Portal, seller registration, buyer registration, and Government E-Marketplace tender Bidding services. Learn More.