Cabinet enables co-op procurement through the GeM portal

The Union cabinet on Wednesday approved a proposal to broaden the mandate of Government e-Marketplace (GeM) by allowing co-op purchases.

Currently, the registration of cooperatives as buyers was not covered by the current GeM mandate.

The move will help over 8.54 lakh registered cooperatives and their 27 million members as they would get products at competitive rates on the GeM portal.

These cooperatives will benefit from the decision, Information and Broadcasting Minister Anurag Thakur told reporters.

In accordance with the existing mandate, goods and services registered on the GeM portal cannot be used by private sector buyers. Suppliers (vendors) can come from all segments – government or private.

The decision was taken by the Cabinet, chaired by Prime Minister Narendra Modi.

The GeM was launched on August 9, 2016 by the Department of Commerce to create an open and transparent procurement platform for government buyers.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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