GeM Introduces New Features To Revolutionize The Procurement

GeM is an online platform launched by the Indian government in 2016 to assist various government agencies and organisations in procuring products and services. The platform aims to enhance transparency, efficiency, and cost-effectiveness in buying.

The Government e-Marketplace (GeM) serves as the Public Procurement Portal for all State and Central Government Ministries, Departments, Public Sector Units (PSUs), and affiliated organisations. GeM strives to improve the openness, efficiency, and inclusiveness of government procurement. GeM has the following advantages: It is a centralised and unified government procurement tool for government buyer organisations and suppliers of goods and services.

Bidder Ranking and Automated Bid Compliance are two new features implemented by GeM (Government e-Marketplace) to improve the procurement procedure in India.

Bidder Ranking: With this feature, buyers on GeM will be able to rate bidders based on their performance in prior contracts. Buyers can provide comments and ratings to bidders based on delivery timelines, product quality, and other parameters. This will assist buyers in making informed decisions when choosing bidders for future contracts.

Automated Bid Compliance: This feature assists bidders in ensuring that their bids meet the criteria specified in the bid documents. The system will check the bids for compliance automatically and inform the bidders if any discrepancies are discovered. This will assist bidders in avoiding offer rejection due to non-compliance.

Both of these characteristics will contribute to the procurement process being more efficient, transparent, and fair. It will also encourage healthy competition among bidders, resulting in higher-quality products at lower prices.

GeM has made technological advances to enhance the procurement process and user experience, such as integrating with DigiLocker and launching GeM Analytics. GeM 4.0 is the most recent platform version, and it includes new features such as bid cancellation, bid comparison, and performance evaluation. GeM is also investigating the use of artificial intelligence to improve platform performance.

Because of GeM’s success in establishing itself as a real game changer in government procurement, more buyers and vendors are participating in the system. GeM’s ability to unlock value and save money for the nation’s development, it has aided in transparent, seamless, simple, efficient, and faster procurements. Because all of the data is in one location, any attempt to deceive the system can be quickly identified. The government’s move to charge buyers interest on late payments in GeM is a significant step forward. It has been described as a major step forward by the government’s decision to charge purchasers interest for late payments in GeM.

In terms of data and statistics, GeM, which launched in August 2016, had 55.9 lakh sellers and 65,039 customers as of December 18, 2022. 1.25 crore orders have been placed thus far, with a total transaction worth Rs 3.44 lakh crore. Micro and small sellers accounted for 8.30 lakh of total merchants and 55.31 percent of order value, according to the most recent platform data.

The Prime Minister of India, Shri Narendra Modi, has praised the Government-e-Marketplace (GeM) for achieving a yearly procurement of Rs. 1 lakh crore in Fiscal Year 2021–22. He lauded the platform’s achievements, claiming that it has developed into a “national procurement portal” that has transformed the country’s procurement practices.