GeM Reduces Transaction Charges to Boost Public Procurement

The Government e-Marketplace (GeM) has announced a significant reduction in transaction charges for sellers and service providers. This move, part of the government's 100 days initiative, aims to foster ease of doing business and create a more inclusive economy. The new policy will benefit many small-scale businesses.

The Government e-Marketplace (GeM) has made a substantial reduction in transaction charges for sellers and service providers, according to a senior government official.

Ajit B Chavan, Additional CEO of GeM, stated that this 'bold' initiative is part of the government's 100 days plan to enhance ease of doing business and build a more inclusive economy.

Effective from August 9, the new revenue policy eliminates charges for orders up to Rs 10 Lakh and substantially decreases fees for higher order values. Nearly 97% of transactions on GeM will now attract zero charges, benefiting small-scale businesses the most.

(With inputs from agencies.)