Daily Current Affairs
Syllabus- Indian Economy [GS Paper-3]
Context– Recently Government e-Marketplace achieves a Gross Merchandise Value (GMV) of Rs. 1.5 Lakh Crores.
Gross Merchandise Value (GMV)
- GMV means the value of goods sold via customer-to-customer or e-commerce platforms.
- It is calculated prior to the deduction of any certain fees or expenses.
- It is a measure of the growth of the business or use of the site to resell products owned by certain through consignment.
Government e-marketplace (GeM)
- The GeM is an online platform launched by the Ministry of Commerce and Industry, Government of India in 2016 in order to facilitate procurement of goods and services by various government departments and organisations.
- It is open to all government departments, public sector undertakings, autonomous bodies and also other organisations.
- Presently, GeM stands at the third position after Singapore’s GeBIZ.
- South Korea’s KONEPS is the largest such platform across the world.
- Boost to Digital Economy:
- The e-marketplace can promote the use of technology in government procurement processes by contributing to the growth of India’s digital economy.
- In the last 6.5 years, GeM has revolutionised the ecosystem of public procurement in the country through various technology, the digitization of processes, the digital integration of all stakeholders, and the use of analytics.
- Improved vendor participation:
- GeM can encourage more vendors, including small and medium enterprises, in order to participate in government procurement processes, leading to increased competition and better value for money for the government.
- Transparency and Efficiency:
- A government e-marketplace can improve the transparency and efficiency of procurement processes by standardising and automating procedures by reducing the scope for corruption and human error.
- Last Mile Outreach:
- The e-Marketplace has integrated with 1.5 lakh+ India Post offices and 5.2+ lakh Village Level Entrepreneurs (VLEs) via the Common Service Centres for last-mile outreach and service delivery.
- Country of Origin Mandatory:
- Each time a new product is registered on GeM, sellers are required to list the Country of Origin.
- Bamboo Market Window:
- The National Bamboo Mission and the Government e-Marketplace (GeM) have collaborated to have a dedicated window on the GeM portal for marketing of the Bamboo Goods such as Bamboo based products and Quality Planting Materials.
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