New Delhi, Feb 23 (IANS) The procurement of services through Government e-Marketplace (GeM) has jumped by as much as 176 per cent to Rs 1,82,000 crore during the current financial year as on February 22 from the corresponding of Rs 66,000 crore for 2022-23, according to data released by the Commerce Ministry on Friday.
The ministry said that the total value of procurement of services now exceeds the total value of products procurement in a Financial Year which is an important milestone that indicates the faster acceptability of services by various buyers.
“In February 2024, services procurement has been phenomenal, contributing to nearly 80 per cent of the total order value transacted on GeM. The share of procurement of services in overall procurement has exceeded the 50 per cent mark in the current financial year. Two bids placed by South Eastern Coalfield Limited, a subsidiary of COAL India Limited, worth nearly Rs 40,000 crore, have catapulted the share of service procurement in this month,” the ministry said.
Commenting on this significant achievement, CEO, GeM, P K Singh said that the GeM has harnessed digital capabilities and has emerged as a one-stop-shop for procurement of all possible services that may be required by government buyers at various levels of administration.
He said that the expansion of the service offerings on GeM has been the brightest chapter in the platform’s success story, witnessing an exponential growth in a short span of time.
The expanded bouquet of services on GeM has given a tremendous boost to the GeM Gross Merchandise Value (GMV). In this year alone, nearly 457 orders, worth Rs 4,036 crore, have been placed for procuring nine types of insurance services such as Group Mediclaim Insurance Service, Asset Insurance Service, Group Term Insurance Service etc. government of Gujarat has procured Group Mediclaim Insurance Services worth Rs 2,302 crore under Pradhan Mantri Jan Arogya Yojana to extend insurance cover to nearly 62 lakh families.
Innovative and unique service offerings like Local Chemist Empanelment have resulted in an average discount of 30-32 per cent on supply of medicines through GeM’s e-bidding process.
This has prompted the Central government health scheme, employees & state insurance corporations, and multiple state Health & Family Welfare Departments to actively procure these services through GeM.
Procurement of services like hiring of consultants and PR Agency, outdoor advertisement services and exhibition/event/seminar management services has enabled government bodies to make informed policy-making decisions and effectively disseminate information.
Services procurement on GeM has also given huge impetus to key social welfare initiatives like Jal Jeevan Mission, POSHAN 2.0 etc. To further the vision of a Swachh Bharat, GeM has created separate categories for hiring of sanitation services, including collection, disposal, and management of waste.
This service is being regularly procured by Urban Development & Housing Department, Bihar, which placed 35 orders across various urban local bodies for collection, lifting, transportation and disposal of waste.
Similar contracts have also been placed by Urban & Local bodies in various states like Jammu and Kashmir, Andaman and Nicobar Islands, Uttarakhand and Delhi.
This remarkable trend underscores the increasing recognition of services as a strategic asset and highlights the importance of robust procurement infrastructure in streamlining public procurement processes. This unprecedented growth attests GeM’s scalability and adaptability and the pivotal role it plays in driving India’s economic growth.
GeM was established in 2016 to provide Government buyers an end-to-end digital platform to carry out public procurement of goods at cost-effective rates. In FY19-20, the platform diversified its portfolio to include services as a separate segment.
–IANS
sps/dan
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
