Policy

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.

Published on April 12, 2017
This article is closed for comments.
Please Email the Editor