By Shailesh Yadav

Paris [France], June 18 (ANI): Government e-Marketplace (GeM), a web-based platform for public procurement in India, showcased its success story at Europe’s largest know-how and start-up occasion, VivaTech, held in Paris.

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The four-day occasion introduced collectively a worldwide group of visionary start-ups, buyers, organisations, researchers, companies and expertise, who’ve exemplified using know-how and innovation in driving human welfare.

Speaking at a panel dialogue, highlighting methods to unlock the total potential of know-how in driving human welfare, Satya Narayan Meena, ACEO and Chief Financial Officer, GeM, emphasised the platform’s function in selling equitable entry.

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Meena advised ANI that participation at VivaTech 2023 is a testomony to how digital platforms, created with a strategic and clear intent to reinvigorate and reimagine legacy processes, can result in lasting change for the nation and the underserved. VivaTech 2023 has offered a platform for GeM as an example its achievements on a worldwide platform.

Meena stated the inauguration of the India Pavillion at VivaTech introduced GeM with a landmark alternative to showcase its success story in bringing a few paradigm shift in India’s public procurement ecosystem via know-how, digitisation of processes, digital integration of all stakeholders and use of analytics.

Established in 2016, GeM is a digital device within the nation’s curiosity. It is an end-to-end digital ecosystem that enabled authorities patrons and personal sellers to hold out procurement actions in a good and aggressive method. It relies on the pillars of creating authorities methods within the public procurement market extra environment friendly, clear and inclusive.

Nearly 1.5 crore orders have been positioned through the platform, leading to a cumulative Gross Merchandise Value of greater than Rs 4.2 lakh crore for the reason that inception of the group. In FY 2022-23 alone, GeM crossed the milestone of reaching Rs 2 lakh crore in Gross Merchandise Value transacted via the portal.

Meena additionally stated that with its advanced functionalities and processes like Push Button Procurement, Single Packet Bidding and Annual Procurement Plan, GeM has helped patrons make extra knowledgeable selections thereby producing large public financial savings. An unbiased examine performed by the World Bank and IIM Lucknow in 2020 estimated a mean of 9.75 per cent financial savings from the median value on procurements sourced via GeM. In 7 years, the platform has enabled public financial savings price almost Rs 40,000 crore.

Through automation and digitisation of processes, GeM has led to increased course of efficiencies, higher data sharing, improved transparency, diminished course of cycle occasions, and a better stage of belief amongst bidders, which in flip have resulted in larger competitors and better financial savings.

In VivaTech 2022, India was named the Country of the Year. This yr, India has despatched a delegation of round 70 start-ups this yr beneath the management of the Ministry of Electronics and Information Technology and Department (MEITY), Department for Promotion of Industry and Internal Trade (DPIIT), and Ministry of Commerce & Industry, Government of India. (ANI)

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