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Indian Economy

The Union Cabinet on Wednesday cleared a proposal allowing cooperatives to sell products on the Government-e-Marketplace (GeM) platform. The cooperatives may, however, be charged a transaction fee to cover the incremental costs, a government statement said.

The GeM started in 2017 is a one-stop portal to facilitate online procurement of commonly used goods and services. The portal is open for all government buyers — Union and State Ministries, departments, public sector enterprises, autonomous institutions, local bodies and so on. Private buyers cannot buy on the platform but private people can sell products to government bodies through the portal.

Union Cooperation Minister Amit Shah said in a tweet that the GeM would provide an opportunity to the cooperatives to sell products in a transparent manner. He said the move will benefit 27 crore people associated with 8.5 lakh cooperatives.

He said the micro and medium small industries will get buyers and it will boost the prospects of “Vocal for local” and Atma Nirbhar Bharat.

Special purpose vehicle

“The validated list of cooperatives to be onboarded on the GeM — for pilot as well as subsequent scale-up — will be decided by the Ministry of Cooperation in consultation with the GeM SPV [Special Purpose Vehicle]. This will ensure that technical capacity and logistics requirement of the GeM system are taken into account while deciding the pace of on boarding of Cooperative as buyers on the GeM,” a government statement said.

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