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Indian Economy

New Initiative SWAYATT

  • 20 Feb 2019
  • 2 min read

Recently the Union Minister of Commerce & Industry has launched an initiative termed SWAYATT.

  • SWAYATT is an initiative to promote Start-ups, Women and Youth Advantage through e-Transactions on Government e Marketplace (GeM).
  • This will bring together the key stakeholders within the Indian entrepreneurial ecosystem to Government e-Marketplace the national procurement portal.
  • The government also launched GeM Start-up Runway-an initiative of GeM in association with Start -up India to facilitate Start-ups registered with Start -up India to access the public procurement market and sell innovative products and services to government buyers.
  • GeM Start-up Runway seeks to support technology development, spur research and innovation by ensuring a conducive policy environment for industrial diversification and value addition to commodities.
  • GeM Start-up Runway will address goals and objectives under United Nations Sustainable Development Goal 9: Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.

Government e-Marketplace (GeM)

  • GeM is an Online Market platform was setup in 2016 to facilitate procurement of goods and services by the government ministries, departments, public sector undertakings (PSU) etc.
  • It has been envisaged as National Procurement Portal of India.
  • It has been developed by Directorate General of Supplies and Disposals (Ministry of Commerce and Industry) with technical support of National e-governance Division (Ministry of Electronic and Information Technology).
  • It functions under Directorate General of Supplies and Disposals (DGS&D), Ministry of Commerce and Industry.
  • GeM is a completely paperless, cashless and system driven e-market place that enables procurement of common use goods and services with minimal human interface.
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