Ease of Doing Business for MSMEs: GeM currently has 3.25 lakh sellers listed out of which 70,783 sellers are micro and small enterprises contributing 52.50 of the total order value on the platform.
Ease of Doing Business for MSMEs: Business-to-government e-commerce portal Government e-Marketplace (GeM) on Monday announced partnership with Trade Receivables Discounting System (TReDS) platform operator Receivables Exchange of India Ltd (RXIL) to help government departments, public sector units, CPSEs etc. to finance their payments to MSME sellers of goods and services. RXIL — a joint venture between SIDBI and National Stock Exchange is among the three licensees for operating the TReDS platform. Invoicemart and M1Xchange are the other two operators.
The development comes days after the Finance Minister Nirmala Sitharaman proposed increasing the turnover of GeM to Rs 3 lakh crore. “GeM is moving ahead for creating a unified procurement system in the country for providing a single platform for procurement of goods, services and works. It offers a great opportunity for MSMEs,” the minister had said. GeM currently has 3.25 lakh sellers listed out of which 70,783 sellers are micro and small enterprises contributing 52.50 of the total order value on the platform.
Financial Express -