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

New Delhi, Dec 5 () The target of Rs 5 lakh crore business through government's e-marketplace GeM is achievable in less than five years given the huge amount of procurement done via the platform, Commerce and Industry Minister Piyush Goyal said on Thursday.

GeM symbolizes a transparent and corruption free procurement system and it will unify all government procurement, across all ministries and departments of Union and state governments within a defined timeframe, Goyal said.

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

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

Terming GeM unique in various ways as it does not operate on any algorithms to support/ promote any product or supplier and also does not solicit any business through advertisements, deep discounts, predatory pricing, he said it will help bring down corruption in public procurement in the country.

"GeM focusses on giving balanced and fair access to all suppliers in an agnostic manner in market place. Make in India should be given preference through GeM portal by giving preference to products and services of India," the minister said.

He also stressed to take the GeM portal to the next level wherein all contractors/ sub-contractors of government departments and PSUs should procure from GeM.

However, he cautioned that the quality of products and services must not be compromised, and stringent mechanisms like blacklisting be put in place against any poor quality product or services.

Minister of State for Commerce and Industry Som Prakash said with more than 63,000 MSMEs, over 3,600 startups and 8,000 plus women entrepreneurs, GeM provides a large, efficient and an inclusive ecosystem.

He further stressed that GeM should ensure the quality of products and services as well as address payment issues.

Ajay S Shriram, Chairman & Senior Managing Director, DCM Shriram said GeM is state-of-the-art public platform ensuring transparency, efficiency and speed and has the potential to become next Amazon given the market size and tech capabilities.

GeM ensures cashless and paperless transaction in line with digital initiative of India, Shriram said.

The conclave was jointly organized by industry body CII and CII-Tata Communications Centre for Digital Transformation in partnership with Government e-Marketplace (GeM) and Ministry of Commerce & Industry. KPM ANU