Bengaluru, Feb 24 (KNN) In a concerted effort to bolster the presence of Karnataka's Micro, Small, and Medium Enterprises (MSMEs) in the public procurement landscape, Government e-Marketplace (GeM) collaborated with Laghu Udyog Bharati-Karnataka (LUB-K) to organise a pivotal MSME sellers' meet.

This initiative aimed to bridge the gap between MSME sellers and Central and State PSU buyers, fostering a conducive environment for business growth and collaboration.

The event, held at V One Hotel-Ambara Elite, Bengaluru, witnessed a focused registration drive on February 23, 2024.

GeM, under the Ministry of Commerce and Industry, orchestrated this gathering to unveil unlimited market opportunities for Karnataka-based MSMEs.

Through informative sessions and collaborative efforts, GeM and LUB-K endeavoured to raise awareness about the benefits of GeM and encourage its adoption among MSMEs in the state.

GeM, a digital procurement platform, serves as a unified marketplace for government agencies, PSUs, and other entities to procure goods and services transparently and efficiently.

With nearly 50 percent of the total order value transacted on GeM awarded to MSEs, it stands as a testament to the pivotal role played by MSMEs in the procurement ecosystem.

Ajit B Chavan, Additional CEO of GeM, emphasised the significance of MSMEs in fulfilling purchase orders through the platform, highlighting their substantial contribution to the procurement landscape.

Furthermore, he unveiled GeM Sahay 2.0, a revolutionary initiative offering collateral-free loans to marginalised sellers, thereby addressing financial constraints hindering their participation.

Shrinivasa, Additional Director of the Department of Industries and Commerce, Government of Karnataka, commended GeM for unlocking new business avenues for Karnataka's MSMEs, enabling them to engage in national public procurement seamlessly.

The event featured a panel discussion where representatives from Central and State PSUs elucidated procurement needs and opportunities, fostering meaningful interactions between buyers and sellers.

Notably, Karnataka-based MSEs have fulfilled orders worth millions through GeM, underscoring their substantial presence in the procurement landscape.

GeM remains committed to promoting inclusivity by facilitating the onboarding of marginalised seller groups and integrating seamlessly with platforms like the Udyam portal to streamline registration processes for MSMEs.

LUB-K played a pivotal role in mobilising MSE members from across Karnataka, facilitating their live onboarding on the GeM portal and providing on-the-spot issue resolution.

With GeM surpassing milestones in Gross Merchandise Value, including a record-breaking achievement of Rs 3 lakh crore in the current fiscal year, the portal is poised for further growth, aiming to reach the Rs 4 lakh crore mark by year-end.

(KNN Bureau)