Tuesday, September 27, 2022

MoU Between GeM and SAIL for Setting up GoTT

Must read

New Delhi: Government e-Marketplace (GeM) under Department of Commerce, Ministry of Commerce and Industry, Government of India and Steel Authority of India (SAIL), signed an MoU to set up GeM Organizational Transformation Team (GOTT)Project Management Unit (PMU)in New Delhi today. Secretary Steel, Binoy Kumar, Secretary Department of Commerce, Anup Wadhawan and CMD SAIL, Anil Chaudhary were present on this occasion. The MoU was signed by S. Suresh Kumar, Additional CEO, GeM and Harinand Rai, Director (Technical), SAIL.

Bringing in transparency

The public procurement system is key to the effective and efficient functioning of the Government as it underpins the performance of all sectors at different levels of Government. GeM, the national procurement platform, was launched in August 2016 to overcome the shortcomings like poor planning, insufficient competition, delays in the procurement process, high tender premium / higher cost of infrastructure, allegations of corruption and poor complaint management. GeM provides an open, inclusive and efficient solution to all public procurement needs while leveraging technology and domain database.

Under one umbrella

To further align public offices to a market based public procurement, Department of Expenditure, Ministry of Finance, Government of India had last month permitted Ministries and Departments of Central and State Governments to consider services of GOTT on an outcome-based self-sustenance model. GOTT will assist the buyer agency to transform their business activities, processes, competencies and models to fully leverage the opportunities of an open market-based procurement.

ALSO READ: Canara Bank Circle Office Kolkata organises Mega Retail Expo

With this MoU, SAIL has become the first PSU to establish GOTT PMU for transforming their procurement landscape and increasing their footprint on GeM. It is projected that through the initiatives of GOTT PMU, SAIL will be able to transact Rs 1700 crore in terms of annual Gross Merchandize Value (GMV) on GeM platform in the first year and Rs 9000 crore, over a period of time, and thereby efficiently conduct and monetize their public procurement.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)

- Advertisement -

More articles

- Advertisement -

Latest News