Friday, August 19th, 2022 17:32:37

Union Cabinet allows procurement by Cooperatives through Government e-Marketplace

Updated: June 2, 2022 11:35 am

The Union Cabinet, chaired by Prime Minister Narendra Modi has given its approval for expanding the mandate of Government e-Marketplace, GeMs to allow procurement by Cooperatives as buyers on it. Information and Broadcasting Minister Anurag Singh Thakur briefed the media about the cabinet decisions, in New Delhi yesterday.

He said, the move will help Cooperatives in getting competitive prices through open and transparent process. He said, over 8.54 lakh registered cooperatives and their 27 crore members will benefit from the decision.

Mr Thakur said, Ministry of Cooperatives will decide on validated list of cooperatives to be onboarded on GeM. He said, GeM will provide dedicated onboarding process for cooperatives.

Mr Thakur said, after opening the GeM portal, Self-Help Groups, MSMEs and small businesses have benefitted a lot. He said, different PSUs, Ministries, Departments, autonomous bodies or local bodies of the Government started buying from the GeM portal.

The Government e-Marketplace was launched on August 9, 2016 by the Ministry of Commerce and Industry to create an open and transparent procurement platform for Government buyers.

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