The government's e-marketplace platform, GeM, is significantly enhancing public procurement through the integration of AI, advanced analytics, and digital monitoring systems. This strategic adoption has led to substantial savings for the exchequer and improved transparency, while also playing a crucial role in health sector procurement.
India Post is reinventing itself from a traditional mail service into a modern logistics, e-commerce, and real estate powerhouse. Several post offices situated inside major university campuses, called Gen Z post offices, have received a facelift, with cafe-like decor and wi-fi availability.
A government mandate requiring central public sector enterprises to use the Trade Receivables Discounting System (TReDS) for settling small business invoices is expected to significantly increase volumes on these platforms.
Initially, private buyers will be able to make bulk purchases on Government e-marketplace, it will subsequently be broadened to small-ticket buying as well.
The government's initiative to migrate SEZ data from NSDL software to ICEGATE system for streamlined reporting of import data caused double counting of gold imports, resulting in inflated figures and the issue has now been largely rectified, government sources said. The downward revision has provided the actual picture of trade deficit (difference between imports and exports), which was earlier looking very high. The deficit for November will now be revised downwards from $37.84 billion to about $32.8 billion. Similarly, there will be a revision in overall import numbers as well.
Govt's e-commerce portal asks sellers to specify country origin of products. Now, the commerce & industry ministry has mandated that the Government e-Marketplace, which has seen Rs 55,048 crore worth of transactions till now, adopt this approach in the interest of creating an 'Aatmanirbhar Bharat'.
The background work of creating a suitable digital architecture of a website also remains unfinished as it has been a challenge to shortlist technology partners.
The Jammu and Kashmir Police has initiated the process to procure over 8,000 bullet-resistant (BR) jackets of protection levels 5 and 6 for its personnel involved in counter-terrorism and security operations, official sources said.
Three years and Rs 28,710 crore worth of transactions later, it has more than double the number of sellers than Flipkart.
With the world's worst outbreak of COVID-19 severely straining the health system in the country, the government has made sweeping changes in the way departments procure medical supplies, including allowing procurement of the same item at different rates.
The number of times public sector undertakings (PSUs) have held conference calls with investors, their capital management, and debt financing are among the parameters that the Centre will use to judge their performance for the first time, a senior official in the know said. The government will evaluate PSUs for FY22 based on new parameters that were finalised by the Department of Public Enterprises (DPE) in consultation with the Department of Investment and Public Asset Management (DIPAM) last year, the official said. The government had included more conditions in the memorandum of understandings (MoUs) - used to set annual targets - that public sector enterprises sign with the DPE every year. These included a consistent dividend policy, which seeks to transfer dividends by PSUs every quarter; and market capitalisation or share price improvement over the sectoral index on an annual average basis for listed companies.
He asked to focus on the 'vocal for local' mantra during the 'Azadi ka Amrit Mahotsav' celebrations.
In his monthly Mann Ki Baat radio broadcast, Modi hailed the potential of India and said the basis of its strength is the country's farmers, artisans, weavers, engineers, small entrepreneurs, the MSME sector and people from many different professions."
'Irrespective of the price movement of gold, customers can lock in their purchase at Rs 28,000 per 10 grams of pure gold.'
Conformity assessment procedures will be put in place to verify that goods and services sold on e-commerce platforms meet required standards and technical regulations, according to the draft e-commerce policy. The policy, which is under discussion, also stated that actions and things which cannot be done by the online platform entities "can also not be done" by any of its associates and related parties. Government may, from time to time, notify parties which fall in the definition of associates and related parties, it said.
"Now the gof India has decided to soon initiate procurement from local industries to reduce import dependence," he said. Reddy, the Union Minister of State for Home, said for many years India was dependent on worldwide Original Equipment Manufacturers (OEMs) for procuring arms and ammunition.
In a bid to curb harassment of taxpayers, Sitharaman said, a faceless e-assessment scheme was launched in October to eliminate interface between an assessing officer and a taxpayer.
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
Announcing a slew of measures for the sector, he said GST-registered micro, small and medium enterprises will be sanctioned a loan of Rs 1 crore in just 59 minutes through a new portal.
Calling the young CEOs as his team, Modi said India's development must be made a mass movement and entrepreneurs should think of what more they can do for the country's growth and for the poor.
Under GST, the small and medium industries would have to handle things on their own, says V S Krishnan.
Modi said his government was committed to provide equal opportunities to all sections of the society.
Celebs follow a template for their special day -- an intimate ceremony with few people and a keen eye for a touch of luxury in every aspect.
Readying its game plan, the Bengaluru-based e-commerce giant plans to renew talks of investments in various companies such as Swiggy, BookMyShow, Pepperfry, UrbanClap
The Jain brothers' $300 mn-worth Girnar Software has really humble roots.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
Globally, the SME business is among the fifth and sixth positions for Adobe.
