MSME - #SectorUpdates
The Government’s platform for public procurement, Government eMarketplace (GeM) has crossed a whopping 50-lakh seller mark amid the growing number of registrations on the MSME registration portal Udyam. Launched in August 2016, the initial 10 lakh sellers were registered in the first 4.5 years (till January 2021) of GeM’s operation while the rest 40 lakh sellers were onboarded in the following 20-month period. As of August 22, 2022, 50.05 lakh sellers and service providers were registered on GeM, of which 8 lakh were micro and small enterprises with a 55.01 per cent share in the portal’s total order value. So far, 1.10 orders from the Government including Government departments, Ministries, Central public sector enterprises (CPSEs) involving transaction value of Rs 2.84 lakh crore have been processed on the GeM portal. This is undoubtedly a great step towards creating market connect for MSMEs in the country through the digital medium.