Calling onboarding of co-ops a game changer for GeM, Union Minister of Commerce Piyush Goyal said that the growth of GeM, which was launched six years ago would be speeded up in an unprecedented manner with this new entry, said Piyush stressing that 8 lac co-ops in the country constitute a big number.
Goyal said there are more than 10,000 products and more than 288 services have been listed so far. Till now business worth Rs. 2.78 lakh thousand crore has also been completed which is a huge achievement of the GeM.
There are 48 lakh sellers and about 68,000 buyers on GeM; the entry of co-ops means that more than 8 lakh new buyers would join GeM in the course of time, scaling up the entire operation, underlined theCommerce Minister.
Launched in 2014 with the technology to ensure transparency and quality, GeM is a new regime, thought of by the Prime Minister, which replaced the notorious DGS&D where a few chosen sellers were registered and made huge profits, stated Goyal.
Lauding Union Minister Amit Shah’s commitment for co-op development in the country, Union Commerce Minister Piyush Goyal narrated the story how Shah moved a Cabinet note to make co-ops eligible for GeM purchase.
Nobody except the govt agencies could buy from GeM and it was an idea of Amit Shah, aimed at bringing transparency that he and his ministry worked hard to prepare a proposal which was brought before us, recalled Goyal.
Piyush Goyal said that co-operatives have huge potential and with Shah at its helm, I can see it touching the life of every Indian in the not so distant future. The fact that the Prime Minister chose Amitbhai to head the new Ministry, indicates its potential.
Goyal also thanked co-operatives for showing interest and said that GeM met 60% of its onboarding target right at the start. What we thought will happen in 6 months looks like it will happen within 3-4months.
Counting the benefits of GeM, Goyal said it makes trading easy and one can see the transaction in real time. It leads to transparency and helps one save a lot. GeM also could lead to economies of scale, stressed Goyal.
GeM would also handhold co-ops and train them in registration and related operations. CSEs, Post Offices as well as Help Desk would ensure that the onboarding experience is smooth for cooperatives, said Goyal.
