<p>New Delhi: Public procurement platform, the Government e-Marketplace (GeM) plans to include rate contract and global tendering functionalities in a month or so, top officials said on Monday.</p><p>Talking to reporters, GeM Chief Executive Officer Mihir Kumar said a number of new features would be added to the public procurement platform soon.</p><p>The global tendering functionality would enable overseas firms to participate in the government procurement tenders in India.</p><p>As part of the India-UK free trade agreement (FTA) New Delhi has offered to allow British firms to participate in the government procurements. The global tendering functionalities in the GeM portal would make it easier for the British firm to participate in the government procurement in India.</p><p>Additional CEO of GeM, Rajesh Jain said around 40 per cent of the annual government procurement is happening through the GeM portal.</p>.India's gems, jewellery exports dip by 11.72 pc at $28.5 bn in FY25: GJEPC.<p>In the financial year ended March 2025, the government procurement worth Rs 5.43 lakh crore was done through the GeM portal. Jain said this number is likely to jump to Rs 7 lakh crore in the current financial year.</p><p>Since its inception in 2016, GeM portal has facilitated more than 2.8 crore orders worth Rs 13.4 lakh crore as of March-end 2025. </p><p>Addition of the rate contract feature would allow procurement of goods and services at a pre-negotiated price over a specified period. “It will reduce hassle. The price once agreed can be applied for a specified period, say for one year,” said Ajit Chavan, Additional CEO GeM.</p><p>Chavan said that the rate contract feature is likely to be operationalised next month.</p><p>Addressing a media briefing on GeM’s 8th incorporation day, Mihir Kumar said in the last 8 years GeM has emerged as a transformative force in public procurement, scaling unprecedented heights in both volume and value. </p><p>The platform claims to have over 1.64 lakh primary buyers and 4.2 lakh active sellers, offering more than 10,000 product categories and over 330 services. </p>
<p>New Delhi: Public procurement platform, the Government e-Marketplace (GeM) plans to include rate contract and global tendering functionalities in a month or so, top officials said on Monday.</p><p>Talking to reporters, GeM Chief Executive Officer Mihir Kumar said a number of new features would be added to the public procurement platform soon.</p><p>The global tendering functionality would enable overseas firms to participate in the government procurement tenders in India.</p><p>As part of the India-UK free trade agreement (FTA) New Delhi has offered to allow British firms to participate in the government procurements. The global tendering functionalities in the GeM portal would make it easier for the British firm to participate in the government procurement in India.</p><p>Additional CEO of GeM, Rajesh Jain said around 40 per cent of the annual government procurement is happening through the GeM portal.</p>.India's gems, jewellery exports dip by 11.72 pc at $28.5 bn in FY25: GJEPC.<p>In the financial year ended March 2025, the government procurement worth Rs 5.43 lakh crore was done through the GeM portal. Jain said this number is likely to jump to Rs 7 lakh crore in the current financial year.</p><p>Since its inception in 2016, GeM portal has facilitated more than 2.8 crore orders worth Rs 13.4 lakh crore as of March-end 2025. </p><p>Addition of the rate contract feature would allow procurement of goods and services at a pre-negotiated price over a specified period. “It will reduce hassle. The price once agreed can be applied for a specified period, say for one year,” said Ajit Chavan, Additional CEO GeM.</p><p>Chavan said that the rate contract feature is likely to be operationalised next month.</p><p>Addressing a media briefing on GeM’s 8th incorporation day, Mihir Kumar said in the last 8 years GeM has emerged as a transformative force in public procurement, scaling unprecedented heights in both volume and value. </p><p>The platform claims to have over 1.64 lakh primary buyers and 4.2 lakh active sellers, offering more than 10,000 product categories and over 330 services. </p>