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Government’s Version of Helps India Save $1 Billion

  • Paperless, cashless program replaced archaic system in 2016
  • Savings can help amid widening fiscal deficit after pandemic

The Indian government’s move to shift a part of its $400 billion public procurement to an online market platform has already saved the administration about $1 billion so far at a time when it’s trying to rein in its fiscal deficit, according to a government official.

The four-year-old Government e-Marketplace or GeM, often referred to as the government’s, helps ministries and state companies connect with sellers across the country to buy computers, cars, chairs and millions of other products and services at the lowest possible price. Sellers include some of the country’s biggest companies, such as Hindustan Unilever Ltd., Maruti Suzuki India Ltd. and Tata Motors Ltd.