While replying to a query raised by a Rajya Sabha MP, Union Home and Cooperation Minister Amit Shah said, as on 15 November 2023, 559 cooperative societies have been onboarded as buyers on the GeM portal.
“Onboarding of cooperative societies as buyers on GeM is being implemented in a phased manner. In the first phase, 618 cooperative societies/cooperative banks, which have turnover/deposits of more than Rs. 100 crore as per the latest audited financial statement and ‘A’ grade Audit rating (wherever applicable), have been identified for onboarding on GeM”, he added.
Shah further said, “Purchases through GeM would allow cooperative societies to get competitive prices through an open and transparent process from over 67 lakh vendors, thereby economically benefiting the members of these societies. Following the standard procedures on GeM would reduce procurement time and administrative burden. It would also enhance the credibility of the cooperatives by increasing transparency”, he said.
“The Ministry is actively fostering and streamlining the registration process for cooperative societies as buyers of GeM through a multi-pronged approach. All stakeholders including GeM authorities, National Cooperative Union of India (NCUI), Central and State Registrars of Cooperative Societies are taking various initiatives for encouraging and ensuring smooth registration and onboarding of cooperative societies”, his reply further added.
