The Ministry of Commerce & Industry stated in a statement on Sunday that the government e-marketplace (GeM) has made it possible for more than 30,000 startups to transact more than Rs 38,500 crore, confirming its status as a genuine catalyst in India’s innovation ecosystem.
In order to procure products and services for central ministries, state departments, PSEs, and autonomous bodies, GeM was founded as a Section 8 corporation and is administratively overseen by the Department of Commerce, Ministry of Commerce and Industry.
The GeM has revolutionized public procurement in India by establishing an inclusive and transparent platform that helps local entrepreneurs, startups, and small enterprises in addition to government purchasers.
GeM has made it possible for startups to fulfill orders in a transparent manner, which is in line with the country’s socioeconomic growth.
The ministry claims that 8% of all sellers on GeM are female businesses. With a total order value of more than Rs 46,615 Crore, 1,77,786 Udyam-verified women micro and small companies (MSE) have registered on the GeM platform.
GeM handled more than 2,500 startup inquiries during the just-completed Startup Maha Kumbh, assisted more than 1,000 startups with registration and cataloging, and conducted more than 1,500 interactive sessions centered on onboarding and skilling using GeM’s Learning Management System (LMS). These sessions included one-on-one mentoring and group interactions.
During the event, GeM interacted with a variety of entrepreneurs, investors, legislators, and business executives as a strategic presenting partner. By allowing access to government markets, promoting new possibilities, and supporting the larger goal of an Atmanirbhar Bharat, its involvement demonstrated a continuing commitment to encourage the growth of Indian businesses.
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