New Delhi, Oct 6 (KNN) The Indian Steel Association (ISA) has signed an agreement with the Government e-Marketplace (GeM) to help MSMEs in supplying their products and make procurement through the online marketplace, reported Money Control.

"ISA proudly announced the signing of a Memorandum of Understanding (MoU) with GeM. This partnership aims to facilitate the integration of all ISA members onto the GeM platform, both as sellers and buyers," it said in a statement on Friday.

The agreement was signed on October 4, to promote knowledge exchange and direct communication between ISA members and GeM.

Speaking about the MoU, the ISA Secretary General Alok Sahay pointed out that the main objective of this collaboration is to support Micro, Small, and Medium Enterprises in supplying their products as well as make procurement through the online platform.

"GeM plans to launch an effective government interface for financing as well. This initiative is scheduled for implementation in the coming months and will involve the on boarding of various banks, as informed by GeM authorities. This will be another major help to the MSME buyers of steel," it said.

At present, ISA represents around 65 per cent of the country's crude steel producers.  (KNN Bureau)