Cabinet Approves Cooperative Societies as Buyers on GeM Platform

Cabinet Approves Cooperative Societies as Buyers on GeM Platform

New Delhi, June 2 (KNN) The Union Cabinet chaired by Prime Minister Narendra Modi has approved the registration of cooperative societies as buyers on the government’s e-Marketplace (GeM) platform, which would save time and reduce administrative burden.

It will enable cooperative societies to access more than 45 lakh suppliers on a single platform and follow a transparent, economical and efficient procurement system.

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The credibility of cooperatives will likely be enhanced as complaints of mismanagement of funds are reduced.

GeM authorities will provide a dedicated co-op onboarding process, technical infrastructure and support for onboarding and transactions, through available contact centers, on-the-job training and other support services.

Currently, there are about 8.54 lakh cooperatives in India with about 29 crore members. They performed a wide range of activities for the production of goods and services.

These cooperatives make huge purchases of goods and services on the open market to support their operations, so it was necessary to provide them with a platform to benefit from competitive prices through a transparent and efficient process that benefits the members of the societies. cooperatives.

The gross merchandise value of purchases using GeM was over Rs 1 lakh crore in the financial year 2021-22. There are around 54 lakh products listed in 9,702 product categories and 279 service categories. There were savings estimated at around Rs10,000 crore in the financial year 2021-22. (KNN Office)

Virginia S. Braud