The Role of GeM in Innovating Public Procurement Policies
In India, Public Procurement amounts to nearly 20–22% of GDP. This means that a significant amount of tax payers’ money is directed towards making purchases of public goods and services that constitute the lifeblood of government programmes and services. The importance of efficient public procurement cannot be overstated. Yet, up until 2016, India’s public procurement structure grappled with latencies like tedious and time-consuming processes, multiple barriers to entry to the marketplace, cartelization, delayed payments to vendors and excessive public spending on low-quality products.
