Indian Economy News

Udyam and Government e-Marketplace have signed an MoU for data sharing and market linkages

A Memorandum of Understanding has been signed by the Government of India's public procurement platform, Government e-Marketplace (GeM), and the government's portal for registering micro, small, and medium enterprises (MSMEs), Udyam, to allow data from MSMEs registered on Udyam to be shared with GeM. The aim of this MoU is to spread awareness and sensitise MSE sellers about the GeM portal.

According to Mr. Narayan Rane, the Union Minister of Micro, Small, and Medium Enterprises, “We spark a new era of growth and unleash the potential of India's small enterprises by exchanging data, conducting workshops, facilitating market linkages, and promoting the public procurement policy.”

Through the integration of an Application Programming Interface (API), data will be shared between the two platforms, allowing MSEs to onboard GeM in just two steps. In order to help government buyers accomplish their MSE procurement goals, this collaboration will also allow MSEs the opportunity to take part in trade shows, exhibitions, conclaves, and expos.

On the GeM platform, there are currently 65.42 lakh sellers registered, including 8.32 lakh micro and small sellers. Over 1.99 crore of the 2.06 crore MSMEs registered in Udyam are micro-enterprises, followed by 6 lakh small businesses and approximately 52,688 medium-sized businesses.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.