Rs 5 lakh cr biz via GeM attainable in less than five years: Goyal

New Delhi, December 5 () The objective of the Rs 5 lakh crore business through the GeM government electronic market can be achieved in less than five years given the large number of purchases made through the platform, said Thursday Minister of Commerce and Industry, Piyush Goyal.

GeM symbolizes a transparent and corruption-free procurement system and will unify all government procurement, in all ministries and departments of the Union and state governments within a defined period, Goyal said.

He was addressing the inaugural session of the 3rd edition of the National Public Proclamation Conclave here.

The business objective of Rs 5 lakh crore through the GeM platform can be achieved in less than five years. GeM should take a high jump and now be open to the common man, so that they benefit from the lower cost of the products and services available at GeM, he said.

Considering that GeM is unique in several ways, since it does not operate on any algorithm to endorse/promote any product or supplier and also does not request any business through advertisements, large discounts, predatory prices, he said it will help reduce corruption in the Public procurement in the country.

GeM focuses on providing balanced and fair access to all suppliers agnostically in the market. Preference should be given to Make in India through the GeM portal giving preference to Indian products and services, said the minister.

He also emphasized taking the GeM portal to the next level at which all contractors/subcontractors from government departments and UPMs must obtain from GeM.

However, he warned that the quality of products and services should not be compromised, and that strict mechanisms such as blacklists should be established against any low quality product or service.

The Minister of State for Trade and Industry, Som Prakash, said that with more than 63,000 MSMEs, more than 3,600 new businesses and more than 8,000 women entrepreneurs, GeM provides a broad, efficient and inclusive ecosystem.

In addition, he stressed that GeM should guarantee the quality of products and services, as well as address payment problems.

Ajay S Shriram, president and senior general manager of DCM Shriram, said GeM is a state-of-the-art public platform that guarantees transparency, efficiency and speed, and has the potential to become the next Amazon, given the size of the market and Technological capabilities

GeM secures cashless and paperless transactions in line with India's digital initiative, Shriram said. The conclave was jointly organized by the IIC industrial body and the CII-Tata Communications Center for Digital Transformation in association with the Government's e-Marketplace (GeM) and the Ministry of Commerce and Industry. KPM ANU

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