The special purpose vehicle, which operates the Government e-Marketplace (GeM), and industry body CII on Monday inked an MoU to ensure quality of products and services procured — especially from small firms — by the government, its agencies and PSUs. Similar MoUs shall be signed soon with other industry associations, according to a statement.
The GeM is a one-stop portal facilitating online procurement of common-use goods and services required by various government departments, organisations and PSUs. The government procurement market is estimated to be about $300 billion.
The MoU aims to establish a GeM Samvaad — ‘a participative and collaborative approach with the industry to promote entrepreneurship’ the statement said. As part of this initiative, the GeM and India Inc. will work together to create awareness and seek inputs from the industry on technical specifications for procurement .
