SPV planned for e-procurement of goods and services

Our Bureau New Delhi | Updated on January 15, 2018 Published on April 12, 2017

The Cabinet gave its nod for setting up of a special purpose vehicle for providing procurement of goods and services required by Central & State Government organisations on Wednesday.

This Government e-Marketplace (GeM SPV) will been registered as the National Public Procurement Portal as a Section 8 company registered under the Companies Act.

An official statement said, “GeM SPV shall provide an end-to-end online marketplace for Central and State Government Ministries/Departments, Central & State Public Sector Undertakings, autonomous institutions and local bodies, for procurement of common use goods & services.”

Effectively, this portal will replace the Directorate General of Supplies and Disposal. The statement also noted that the DGS&D shall be wound up and cease its functions by October 31.

In case it is not possible to wind up DGS&D by October 31, the Department of Commerce may extend the date of closure with proper justification, latest up to March 31, 2018.

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Published on April 12, 2017
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