GeM slashes transaction charges levied on sellers, service providers for public procurement.

The Government e-Marketplace (GeM) has made a significant move by slashing transaction charges imposed on sellers and service providers involved in public procurement. This reduction aims to encourage more businesses to participate in government tenders, making the procurement process more accessible and cost-effective.

#Key Points:

1. **Lower Transaction Costs**: The decrease in charges will reduce the financial burden on sellers, promoting a more competitive marketplace.

2. **Encouraging Participation**: By lowering costs, GeM aims to attract more small and medium enterprises (SMEs) and service providers, increasing the diversity of offerings available to government buyers.

3. **Boosting Efficiency**: Lower transaction fees can streamline the procurement process, encouraging quicker transactions and improving overall efficiency.

4. **Enhanced Transparency**: With reduced fees, the focus shifts more toward value and service quality rather than costs, fostering a transparent procurement environment.

5. **Support for Startups**: This initiative is particularly beneficial for startups and smaller firms, enabling them to compete more effectively for government contracts.

Overall, this decision by GeM reflects a commitment to enhancing public procurement processes and supporting the growth of businesses in the sector.

Yes, the Government e-Marketplace (GeM) has recently announced a significant reduction in transaction charges for sellers and service providers. Here are the key updates:

Zero Charges for Orders up to ₹10 Lakh: Previously, orders up to ₹5 lakh had zero charges, but now this limit has been increased to ₹10 lakh¹.
Reduced Charges for Larger Orders: Orders above ₹10 lakh up to ₹10 crore will now incur a transaction fee of 0.30% of the total order value, down from the previous 0.45%¹.
Flat Fee for Orders Above ₹10 Crore: For orders exceeding ₹10 crore, a flat fee of ₹3 lakh will be charged, significantly reduced from the earlier cap of ₹72.5 lakh¹.

This move aims to ease business operations, particularly benefiting micro and small enterprises (MSEs) by lowering financial barriers and fostering a more inclusive public procurement ecosystem¹ ².

Would you like more details on how to navigate these changes on the GeM portal?

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