The new version of the government procurement platform GeM will be launched by September with the portal having powerful features and availability of “big ticket” items to attract large buyers like PSUs, Railways and Defence, a top official said on Thursday.
“We are rapidly moving towards GeM 4.0 which is the new version of GeM. This will be much smarter, much more powerful feature rich and this will happen by September,” CEO of the Government e-Marketplace (GeM) Talleen Kumar said.
He said some of the features in mind for the new version of GeM are consignee and item wise bidding for buyers, price variation clauses, staggered delivery and demand aggregation, so that “big ticket” items will be available in the marketplace.
“These functionalities and features will allow big buyers like CPSEs, Railways, Defence to also come and procure from GeM and all their procurement needs and functionalities will be met on GeM,” said Kumar.
The GeM CEO also shared that his department was looking at some FinTech solutions for the platform through which the seller can give consent to send his transaction data to banks and the banks can “there and then” sanction a loan to the seller in the form of a working capital loan.
Kumar was addressing a virtual interactive session organised by PHD Chamber. The GeM portal was launched in August 2016 for online purchases of goods and services by all the central government ministries and departments.