TCS Secures Contract to Enhance Government e-Marketplace (GeM)

TCS Wins Contract to Enhance GeM Portal

India's largest software exporter, Tata Consultancy Services (TCS), has been awarded the contract to operate and maintain the Government e-Marketplace (GeM), according to Commerce Minister Piyush Goyal.

The government had recently invited bids to develop an advanced version of the GeM portal, with TCS and Gurugram-based fintech platform Intellect Design Arena emerging as the top bidders.

GeM's Progress and Achievements

GeM, launched in August 2016, has experienced significant growth in public procurement over the last few years. Commerce Minister Piyush Goyal highlighted the portal's remarkable progress, noting a 10-fold increase in procurement activities in just three years.

In April of this year, GeM surpassed a cumulative gross merchandise value (GMV) of Rs 4 lakh crore.

The portal reached its first Rs 1 lakh crore in GMV in 1,771 days, while subsequent milestones were achieved at an increasingly faster pace. GeM's growth trajectory accelerated, with the second Rs 1 lakh crore GMV added in just 316 days, followed by the third and fourth milestones achieved in 234 and 123 days, respectively.

As of March 31, 2023, GeM recorded a GMV of Rs 2 lakh crore in FY23. The latest data from GeM reveals a cumulative GMV of Rs 4.43 lakh crore, with over 1.57 crore orders processed as of June 28.

GeM's Impact and Recognition

GeM has become a vital platform for meeting the procurement requirements of over 69,000 government buyer organizations. With over 11,800 product categories and 280 service categories, the portal provides a wide range of options to buyers and sellers.

Several studies have indicated that GeM offers a minimum savings of approximately 10%, which translates to around Rs 40,000 crore in public money saved. The commerce ministry acknowledged GeM's contribution to fiscal efficiency and resource optimization.

GeM's Future Advancements

Commerce Minister Piyush Goyal announced that GeM is undergoing a comprehensive transformation to enhance its operations and user experience. The forthcoming version of the portal will incorporate contemporary and modern elements to streamline transactions for MSMEs. Notably, the new system will introduce data analytics capabilities, enabling buyers and sellers to make informed procurement decisions based on insights derived from the platform.

Prime Minister Modi Commends GeM Performers

Prime Minister Narendra Modi congratulated GeM's top performers, recognizing their exceptional contributions to India's journey towards prosperity and self-reliance. The Prime Minister's commendation underlines the importance of GeM in fostering economic growth and supporting the nation's self-sufficiency goals.

Here are some additional facts about GeM:

• The portal was launched in August 2016 by the Ministry of Commerce and Industry.

• It is a one-stop shop for government procurement of goods and services.

• Buyers can access a wide range of products and services from registered sellers on the portal.

• Sellers can register on the portal free of charge.

• GeM has helped to save millions of dollars for MSMEs.

• The portal is expected to continue to grow in the coming years.

Conclusion

Tata Consultancy Services (TCS) has won the contract to operate and enhance the GeM portal, which has experienced exponential growth in public procurement.

The new version of GeM will incorporate advanced features, including data analytics, to facilitate easier transactions and decision-making. GeM's impact in terms of savings and efficiency has been significant, contributing to India's fiscal optimization efforts. Prime Minister Modi's recognition further emphasizes GeM's crucial role in promoting the nation's economic prosperity and self-reliance.