What is GeM? Benefits of seller and buyer, Vision, Mission, Values and Registration

All you need to know about GeM, Government e-Marketplace.
Apply Now
Business Loan
Apply Now
3 min
15 June 2024

The Government e-Marketplace (GeM) is an online platform established by the Indian government to facilitate procurement of goods and services by various government departments and public sector units. It ensures transparency, efficiency, and ease of doing business, promoting fair and competitive practices in government procurement.

What is GeM - Government e-Marketplace?

  • Definition: GeM (Government e-Marketplace) is an online platform for public procurement in India, facilitating the procurement of goods and services by various government departments, organizations, and PSUs.
  • Objective: Streamline the procurement process, enhance transparency, and reduce corruption.
  • User base: Used by government buyers and registered sellers, including industries and MSMEs.
  • Features: Offers a wide range of products and services, e-bidding, reverse e-auction, and demand aggregation.
  • Benefits: Ensures efficient procurement, cost savings, and boosts MSME participation in government contracts, fostering industry growth.

GeM advantages for sellers

  • Broad market access: Sellers gain access to a wide range of government buyers.
  • Transparency: Transparent bidding and procurement processes.
  • Efficient payments: Faster payment cycles with timely settlements.
  • Ease of use: User-friendly interface for listing and managing products.
  • Reduced costs: Lower transaction costs and reduced marketing expenses.
  • Growth opportunities: Increased opportunities for small and medium enterprises.

GeM advantages for buyers

  • Wide selection: Access to a vast pool of suppliers and products.
  • Cost efficiency: Competitive pricing through transparent bidding.
  • Streamlined procurement: Simplified and efficient procurement process.
  • Quality assurance: Verified sellers and standardized products ensure quality.
  • Time savings: Faster procurement cycles with minimal paperwork.
  • Enhanced transparency: Clear and accountable purchasing process.

GeM portal vision

  • Transparent procurement: Ensure a transparent and efficient procurement process for government entities.
  • Inclusive growth: Foster inclusivity by enabling MSMEs, startups, and other small businesses to participate in government procurement.
  • Cost efficiency: Achieve significant cost savings for government procurement through competitive and streamlined processes.
  • User-friendly platform: Create a user-friendly, accessible, and technologically advanced e-marketplace.
  • National growth: Contribute to the national economy by promoting fair trade practices and sustainable procurement.

GeM portal mission

  • Efficiency in procurement: Enhance the efficiency and speed of government procurement processes.
  • Empower suppliers: Empower suppliers, especially MSMEs and startups, by providing equal opportunities and reducing entry barriers.
  • Transparency and accountability: Ensure complete transparency and accountability in public procurement.
  • Innovative solutions: Leverage technology to provide innovative procurement solutions and services.
  • Supportive ecosystem: Develop a supportive and collaborative ecosystem for all stakeholders involved in government procurement.

GeM portal values

  • Transparency: Commit to open and transparent procurement practices to build trust and integrity.
  • Inclusivity: Promote inclusivity by encouraging participation from MSMEs, startups, and diverse suppliers.
  • Efficiency: Strive for efficiency in all processes to save time and resources for both buyers and sellers.
  • Innovation: Embrace innovation to continuously improve the platform and procurement methods.
  • Accountability: Maintain high standards of accountability and ensure compliance with regulations and best practices.

GeM Portal Registration Process in India

 

Follow these steps to register on the GeM portal:

  • Access the GeM Portal: Head over to the official Government e-Marketplace (GeM) website.
  • Register an Account: Click on 'Register' and choose whether you’re a Buyer or Seller.
  • Fill in the Details: Provide essential details such as the type of organization, your name, email, and mobile number.
  • Verify Email: Confirm your email by clicking the verification link sent to your registered email address.
  • Document Submission: Upload the required documents, including GST registration, PAN card, and address proof.
  • Complete Profile Information: Add further details like your bank account information and business profile.
  • Await Approval: Submit your application and wait for approval from the GeM authorities.
  • Start Transactions: After receiving approval, log in and begin using the platform for buying or selling.

Key stakeholders of GeM

  • Government buyers: Various government departments and public sector units utilize GeM for procurement.
  • Sellers: Businesses, including MSMEs and large enterprises, list their products and services on GeM.
  • GeM authorities: The administrators who manage and regulate the platform, ensuring compliance and smooth operations.
  • Financial institutions: Banks and NBFCs provide business loans and financial services to sellers for operational and expansion purposes.

Conclusion

The Government e-marketplace (GeM) has revolutionized public procurement in India, ensuring transparency, efficiency, and cost-effectiveness. By simplifying the purchasing process and offering a wide range of products and services, GeM empowers small and medium enterprises to expand their market reach. Additionally, businesses looking to scale up can leverage a business loan, further enhancing their growth potential and contributing to the nation's economic development.

Here are some of the key advantages of Bajaj Finserv Business Loan:

  • Rapid disbursement: Funds can be received in as little as 48 hours of approval, allowing businesses to respond promptly to opportunities and needs.
  • Simplified application process: Online applications streamline the process, reducing paperwork and saving time.
  • High loan amount: Businesses can borrow funds up to Rs. 80 lakh, depending on their needs and qualification.

Bajaj Finserv app for all your financial needs and goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

  • Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
  • Invest in fixed deposits and mutual funds on the app.
  • Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
  • Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
  • Apply for Insta EMI Card and get a pre-approved limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on Easy EMIs.
  • Shop from over 100+ brand partners that offer a diverse range of products and services.
  • Use specialised tools like EMI calculators, SIP Calculators
  • Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

Do more with the Bajaj Finserv App!

UPI, Wallet, Loans, Investments, Cards, Shopping and more

GET THE APP

Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.

Frequently asked questions

What is GeM and how does it work?

The Government e-Marketplace (GeM) is an online platform for public procurement in India, designed to ensure transparency and efficiency. It allows government departments to purchase goods and services directly from sellers. Users register, list products, and participate in bids or direct purchases, streamlining the procurement process and supporting small and medium enterprises.

What does GeM stand for?

GeM stands for Government e-Marketplace, an online platform launched by the Government of India to facilitate transparent and efficient public procurement of goods and services. It streamlines the purchasing process for government departments and public sector enterprises, promoting ease of doing business and providing a level playing field for suppliers, including small and medium enterprises.

What is the use of GeM?

The Government e-Marketplace (GeM) streamlines public procurement by providing a transparent, efficient, and cost-effective platform for purchasing goods and services. It benefits government buyers and suppliers, especially small and medium enterprises, by simplifying transactions, ensuring fair competition, and expanding market access, thus fostering economic growth and innovation.

Is GeM a government company?

The Government e-Marketplace (GeM) is a government initiative under the Ministry of Commerce and Industry in India. It is not a traditional government company but a digital platform created to streamline public procurement. GeM enhances transparency, efficiency, and ease of doing business by providing a unified online marketplace for government buyers and sellers.

What are the three pillars of GeM?

The three pillars of the Government e-Marketplace (GeM) are transparency, efficiency, and inclusiveness. Transparency ensures open access and fair competition, efficiency streamlines procurement processes for cost savings, and inclusiveness empowers small and medium enterprises by providing equal opportunities. Together, these pillars support a robust, equitable public procurement system that drives economic growth and innovation.

Show More Show Less

Related videos