The Indian Government launched a transparent e-Marketplace popularly known as GeM to empower small traders and manufacturers.
Any small trader or manufacturer can get a GeM registration for its business easily. A business can then access the wide interface to sell its products and services to the distinguished buyers from Government sector or PSUs, where there is a huge requirement for such supplies.
Now the question arises,
How do the sellers having GeM registration sell their products to the Government sector buyers?
How do the merchandisers or Sellers having GeM Registration sell their products to the Government sector buyers?
This is fulfilled by a process called Public procurement. The government buys the goods of registered buyers through the process of Public procurement.
- What is Public Procurment?
Just like private companies, the Governments’ services purchase goods and services as per their functional and sanctioned demand.
Public procurement refers to the process by which central, state governments, and PSUs buy goods & services from private dealers and manufacturers. In common terms, this is called government tender.
Public procurement requires a strict procedure in order to ensure that the purchases are fair, effective, transparent, and with minimum public offers.
Now, we shall bandy different kinds of Public procurement or government tender.