1,862 new companies registered in the portal GeM received orders for a value of Rs 275 cr: DPIIT Secy

New Delhi, June 4 () Up to 1,862 new companies have registered with the government's e-Marketplace (GeM) portal and have received orders worth Rs 275 through April, a senior official said on Tuesday.

The portal was launched in August 2016 for the online purchase of goods and services by all ministries and departments of the central government.

Secretary of the Department for the Promotion of Industry and Internal Trade (DPIIT), Ramesh Abhishek, said that new companies can now obtain government orders in GeM Startup Runway, while obtaining exemptions from previous sales, previous experience and money deposits.

1,862 new businesses were registered, which received 7,697 orders worth 275 million rupees until April, he said in a series of tweets.

He also said that 1.87,004 jobs were reported in 16,105 new companies, which are recognized by the department.

With each direct job leading to indirect 3X jobs, the total jobs created by these new companies is estimated at more than 5.6 lakh, he said.

In addition, the secretary informed that SIDBI has committed Rs 2,570 crore from the Fund of Funds to 45 risk funds, catalyzing investments of more than Rs 25,000 crore.

244 new companies have received funds of Rs 1,561 crore, he said.

On the patent front, he said 1,496 companies have received an 80% discount on patent filing fees, while 2,761 have a 50% discount on trademark filing fees.

389 available expedited examination. 103 patents are granted. The fastest patent was granted in 81 days, Abhishek said.

Startup India is the government's flagship initiative, launched in January 2016, which aims to build a solid ecosystem for the growth of start-ups to drive sustainable economic growth and generate employment opportunities. The Startup India action plan provides taxes and other incentives. RR SHW RVK RVK