Indian Navy Day 2022: Défense purchases via GeM portal from MSMEs near Rs. 42,000 crores
The Indian Navy is a well-balanced three-dimensional force capable of operating above, on, and beneath the ocean’s surface while protecting our national interests. Its goal is also to enhance its situation in the Indian Ocean Zone. “Indian Navy Combat Ready, Credible, and Cohesive” was the subject of Navy Day 2020.
On December 4, Indian Navy Day is observed to honour the Indian Navy’s contributions and accomplishments. The day also marks the commencement of Operation Trident against Pakistan during the Indo-Pakistan War in 1971, as well as raising public awareness about the Indian Navy.
On December 3, 2022, the Defence Ministry’s purchases of items and services on the government’s e-commerce portal GeM (Government e-Marketplace) totaled Rs 41,936 crore. It is an honour for GeM to assist the Indian Navy in their service to the nation. Continue to purchase from GeM, according to the organization’s officials.
GeM’s defence acquisitions in the first eight months of the current fiscal year exceeded the FY22 procurement level. According to GeM, the gross merchandise value of Rs 15,039 crore reached in the previous fiscal year in 12 months has already been met in the first eight months of the current fiscal year.
According to data released by former MSME Minister Nitin Gadkari in Rajya Sabha in March 2020, GeM’s MSME vendors supplying the military ministry increased to 10,506 through Q2 FY20 from 8,643 in FY19 and 7,591 in FY18. By December 2021, the vendor count had risen to 12,000 people. Defence procurement was Rs 4842.92 crore in FY19 and Rs 5463.82 crore in FY21.
In November, GeM also exceeded Rs 1 lakh crore GMV in eight months (from April 1 to November 29) of FY23, compared to Rs 1.06 lakh crore GMV in the entire FY22. GeM now has 55 lakh suppliers and 64,538 buyers registered. According to GeM data, over 1.2 crore orders worth Rs 3.39 lakh crore have been handled to date.
It is a key differentiator in terms of exposing India’s entrepreneurial spirit and increasing transparency. I applaud everyone who is displaying their items on this platform and encourage everyone else to do the same.”
The Government e-Marketplace (GeM), which was created in a world-record five months, allows various government agencies, organisations, and PSUs to acquire common goods and services online. GeM aims to improve the speed, efficiency, and transparency of public procurement. It provides e-bidding, reverse e-auction, and demand aggregation solutions to enable government users get the most bang for their buck.
GeM is a completely paperless, cashless, and system-driven e-marketplace that allows you to buy ordinary goods and services with little to no human involvement. GeM removes human interaction in vendor registration, order placing, and payment processing to a great extent. As an open platform, GeM has no entry barriers for reputable suppliers looking to do business with the government. At each stage, SMS and email notifications are sent to the buyer and his/her organization’s head, as well as the paying authorities and vendors. The transparency, efficiency, and ease of use of the GeM portal have resulted in significant price reductions on GeM as compared to tender, Rate Contracts, and direct purchase prices.