In fiscal year 2021- 2022, Government E-Marketplaces (GeM), an initiative to boost ecommerce in India, recorded orders worth Rs 1 lakh crore. It is aiming to compete with e-commerce giant Amazon and Flipkart.

According to the Economic Survey 2022-23, the total value of orders received in FY22 increased by 160 percent from the previous year. Micro, small, and medium-sized businesses (MSMEs), who account for 57 per cent of all business, have been crucial in increasing orders through GeM.

GeM, which was introduced in 2017, supports online procurement of goods and services for various organisations and government departments using techniques like demand aggregation, reverse e-auction, and e-bidding.

According to the study, the GeM made a number of actions in FY22 to incorporate the goods of MSMEs, tribal communities, craftsmen, and Self-Help Groups (SHGs). 6 per cent of the GeM’s total revenue was generated by female entrepreneurs operating in various sectors and geographical areas.

According to the study, the Open Network for Digital Commerce (ONDC), which was introduced in beta mode in many locations last year, will continue to play a key role in democratising digital payments, fostering interoperability, and reducing transaction costs.

According to the poll, the development of ONDC and other digital public goods like e-RUPI and the Unified Payments Interface (UPI) will pave the way for a more robust digital economy.

The survey surfaced, “With other initiatives like Co-WIN, e-RUPI, TReDS, Account Aggregators, ONDC, etc. at different stages of implementation, India has developed a unique and cogent digital story to tell. The journey is ongoing and there is much untapped potential in India’s digital public infrastructure space.”

According to the study, the Open Network for Digital Commerce (ONDC), which was introduced in beta mode in many locations last year, will continue to play a key role in democratising digital payments, fostering interoperability, and reducing transaction costs.

According to the poll, the development of ONDC and other digital public goods like e-RUPI and the Unified Payments Interface (UPI) will pave the way for a more robust digital economy.

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