GeM 4.0 Portal GeM Registration E Marketplace Buyers / Sellers
GeM 4.0 Portal: GeM is the Transparent Operations between Buyers & Sellers. On 9th August 2016, the commerce and industry ministry launched GeM 4.0 Portal and this was to replace the Directorate General of Supplies and Disposal. The main objective of the replacement is to create complete transparency and develop a feasible procurement platform.
The Government agencies, ministries, and agencies shall be utilizing the created e-marketplace to buy and sell goods and services. The GeM is embedded with excellent functionalities and it will make even big players yield for procurement needs. The players can be Indian Railways, Defence, and CPSEs.
GeM 4.0 Portal GeM Registration E-Marketplace buyers / Sellers
Big Ticket Availability: In Updated GeM 4.0 Version:
From time and again, the upgraded version of GeM is progressive and by September 2020, a new set of powerful features were to be made available. The GeM planned to make the big-ticket availability that can attract large buyers like PSUs, Railways, and Defence.
According to the CEO of the Government e-Marketplace (GeM), Mr. Talleen Kumar, in his press release said, “We are rapidly moving towards GeM 4.0 Portal which is the new version of GeM.” The upcoming solution in FinTech for the platform. A seller can send transactional details to the bank and the banker shall sanction an instant loan approval. The loan will be in the form of a working capital loan.
Current Situation at GeM in Covid-19:
1. In times of the Covid 19 pandemic, Sellers offer prices have been capped, they cannot increase beyond 20 percent of the lowest quote in the last 30 days. It is to control the erratic price changes in bidding categories.
2. The usual bid cycle is 10 days but is reduced to 3 days. That means, the procurement cycle shortened for Covid 19 related items. The delivery period is limited to two days due to the critical nature of items.
3. The local filter of purchase is up to INR 500000.00 and a buyer can filter local sellers.
4. For the service sector, the shorter duration of bids is 3 days.
5. New business rule is up in the GeM to control an increase in prices. It states that it is mandatory to update stock within 48 hours of notification for the mentioned categories. Otherwise, such sellers shall be stocked out.
6. Priority product and brand approval
7. The period of extension is thirty days beyond the last date of the Original delivery period.
8. Introduction of new web pages for tracking and number of sellers.
9. A buyer can make a direct purchase from the same seller within 7 days of the same product.
Also Read: GeM Portal Login
Registering Businesses on GeM:
Registering a business on GeM is quite simple and easy. GeM does not charge for registration, brand approval, and product approval. There will be no entry barriers. Here any business can be registered in four steps.
1st Step: Visit the website, www.gem.gov.in, and fill in according to the terms and conditions.
2nd Step: Sign up online and register.
3rd Step: The documents that are in need to upload are income tax returns, Aadhar card, or PAN card.
4th Step: Signing up is quick and easy.
|Name of the Portal||GeM 4.0 Portal|
|Portal Launched by||commerce and industry ministry|
|Launched year & date||On August 09, 2016|
|Category of the Article||State govt scheme|
|CEO of GeM||Mr. Talleen Kumar|
Gem 4.0 Portal Buyer/ Seller Login Process:
After successful completion of Registration on the GeM 4.0 Portal, the Buyers and Sellers should follow the steps listed below and log in to the Gem 4.0 Portal.
1st Step: First, the Buyers or Sellers should visit the Gem Portal i.e. www.gem.gov.in.
2nd Step: On the e-Marketplace portal Home page, the Buyers or Sellers should hit on the Login button placed on the right corner of the Home page.
3rd Step: Go to the Login section and enter the GeM User ID and verification code and log in to the Gem 4.0 Portal by tapping the submit button.
Also Check: IIFL Demat Account Login