How have over 10 lakh micro and small enterprises joined the Government e-Marketplace?
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Synopsis
In a significant development, more than 1 million micro and small enterprises have engaged with the Government e-Marketplace, with transactions soaring to Rs 5.40 lakh crore. This milestone emphasizes the growing role of MSMEs in India's economic landscape.
Key Takeaways
- 1 million micro and small enterprises now on GeM.
- Total transaction value on GeM is Rs 5.40 lakh crore.
- GeM serves as a transparent platform for MSMEs.
- GeM Sahay offers instant financing solutions.
- Focus on rural entrepreneurship is vital for growth.
New Delhi, June 28 (NationPress) Over 1 million micro and small enterprises (MSEs) have registered on the Government e-Marketplace (GeM) portal, with the total transaction value on GeM reaching approximately Rs 5.40 lakh crore for the fiscal year 2024-25, as revealed by a senior government official on Saturday.
Ajit B Chavan, the Additional CEO of GeM, stated that the platform serves as a vital resource for MSMEs to supply goods to various government departments.
Speaking at a PHDCCI event in celebration of ‘World MSME Day,’ he emphasized the transparency of the GeM portal and the opportunities it presents for MSMEs in supplying products to different departments.
Chavan also highlighted the GeM Sahay initiative, which provides a comprehensive financing solution for small businesses engaged with GeM. This app facilitates instant financing to fulfill government orders without any complications.
DP Goel, Co-Chair of the MSME Committee at PHDCCI, underscored the necessity for rural entrepreneurship development to enhance business and job opportunities in remote areas, fostering their growth and advancement.
Dr HP Kumar, former CMD of NSIC and advisor to PHDCCI, pointed out that MSMEs are increasingly regarded as exemplary models for other nations, thanks to their substantial contributions to economic growth, job creation, and innovation, especially in developing countries.
“Their agility, adaptability, and capacity to encourage entrepreneurship make them appealing examples for other economies to follow,” he noted. He also highlighted the importance of establishing new enterprises while nurturing existing ones for their capacity enhancement and growth.
V.K. Jain, Senior Manager at the National Research Development Corporation (NRDC), remarked that NRDC stands as India’s premier technology transfer organization, with a presence across seven geographical areas to meet the various technology requirements of MSMEs and startups.
He shared successful case studies from NRDC in commercializing technologies and urged participants to contact NRDC for any technology or IPR support needed by MSMEs and startups.
Point of View
I believe this significant rise in MSE participation on the Government e-Marketplace is a pivotal step towards empowering small businesses in India. It highlights the government's commitment to fostering an entrepreneurial ecosystem that not only stimulates economic growth but also promotes job creation across various sectors. The GeM platform exemplifies transparency and accessibility, ensuring that MSMEs have the necessary resources to thrive.
NationPress
28/06/2025
Frequently Asked Questions
What is the Government e-Marketplace?
The Government e-Marketplace (GeM) is an online platform designed to facilitate the procurement of goods and services by government departments from micro and small enterprises.
How many enterprises have joined GeM?
Over 1 million micro and small enterprises have registered on the Government e-Marketplace.
What is GeM Sahay?
GeM Sahay is an initiative that provides a complete financing solution for small businesses on the Government e-Marketplace, allowing them to access instant funding for government orders.
What is the total transaction value on GeM for FY2024-25?
The total transaction value on GeM has reached approximately Rs 5.40 lakh crore for the fiscal year 2024-25.
Why are MSMEs important for the economy?
MSMEs play a crucial role in economic growth, job creation, and fostering innovation, particularly in developing nations, making them vital for sustainable economic development.
