The Government e-Marketplace (GeM) platform has launched a new initiative called ‘SWAYATT’, which is aimed at promoting start-ups and small businesses in India. The initiative has been a huge success, with many start-ups and small businesses now registering on the GeM platform.
Under the SWAYATT initiative, start-ups and small businesses are given priority in the procurement process on the GeM platform. This means that their products and services are given preference over those offered by larger, established companies.
The initiative is part of the government’s efforts to promote entrepreneurship and innovation in the country, and to create a more level playing field for small businesses. It is also in line with the government’s ‘Make in India’ initiative, which aims to promote domestic manufacturing and reduce imports.
Since its launch, the SWAYATT initiative has received a positive response from start-ups and small businesses across the country. Many entrepreneurs have hailed the initiative as a game-changer for their businesses, as it has given them a much-needed platform to showcase their products and services to a wider audience.
One of the key advantages of the SWAYATT initiative is that it has made the procurement process on the GeM platform more transparent and accessible to small businesses. Start-ups and small businesses can now easily register on the GeM platform and bid for government contracts, without having to go through a lengthy and complicated registration process.
The initiative has also helped to bridge the gap between small businesses and government procurement agencies. Previously, many small businesses were unable to participate in government tenders, as they lacked the necessary experience and resources to compete with larger companies. However, the SWAYATT initiative has levelled the playing field, giving small businesses a fair chance to win government contracts.
In addition to promoting start-ups and small businesses, the SWAYATT initiative is also helping the government to achieve its goal of reducing imports and promoting domestic manufacturing. By giving preference to domestic products and services, the initiative is helping to create a market for locally-made goods and services, thereby reducing the country’s dependence on imports.