GeM portal hopes to get more start-ups onboard: official

Relevance: Policies and Measures taken up by the Government of India

Context: The article discusses the initiatives taken by the Union government's procurement portal, GeM (Government e-Marketplace), to encourage the participation of start-ups and small enterprises as sellers.

GeM's Success and Outreach

  • Start-up Participation: GeM aims to enhance the involvement of start-ups and SMEs as sellers on its platform.
  • Platform Growth: Nearly 23,000 start-ups have joined GeM since its inception, showcasing substantial growth.
  • Role of GeM in the Digital Landscape
  • Early Success: GeM is lauded as a successful experiment by the Indian government in the digital arena.
  • Revenue Growth: The platform's gross merchandise value (GMV) is projected to surpass ₹4 lakh crore, marking significant revenue growth.

Support for Small Enterprises

  • Diverse Seller Base: GeM boasts 21 lakh sellers, including a significant proportion of SMEs and under-represented groups like women, SC, and ST entrepreneurs.
  • Market Linkages: GeM offers easy market linkages for start-ups, exempting them from certain listing requirements, fostering inclusivity.

GeM Sahay 2.0 Initiative

  • Enhanced Support: GeM Sahay 2.0 is introduced to provide collateral-free loans of up to ₹10 lakh to start-ups and entrepreneurs.
  • Quick Approval: Loans under this initiative are approved within 10 minutes, promoting financial accessibility.

'Start-up Runway' Initiative

  • Direct Visibility: GeM encourages start-ups to utilize the 'Start-up Runway' initiative, facilitating direct visibility with buyers on the procurement portal.
  • Opportunity Enhancement: This initiative aims to provide start-ups with increased opportunities for growth and market exposure.
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