New Delhi [India], February 25 (ANI): The Government e Marketplace (GeM) commemorated six years of Startups, Women, and Youth Advantage through eTransactions (SWAYATT) initiative at its New Delhi headquarters (HQ) on February 19, the Ministry of Commerce and Industry said in a release on Tuesday.

Launched on 19 February 2019, SWAYATT was conceptualised with the clear objective of invigorating the participation of women-led enterprises and youth in public procurement.

Rooted in GeM's foundational pillar of social inclusion, SWAYATT is the portal's commitment to enhancing the ease of doing business and establishing direct market linkages to annual public procurement for startups, women entrepreneurs, Micro and Small Enterprises (MSEs), Self-Help Groups (SHGs), and youth, especially those from backward sections of society.

Since its inception, this initiative has been focused on facilitating the training and onboarding of last-mile sellers, developing women's entrepreneurship and encouraging participation and small-scale businesses in government procurement.

On the occasion, GeM signed a Memorandum of Understanding (MoU) with the Federation of Indian Chambers of Commerce & Industry (FICCI) Ladies Organisation (FICCI-FLO) - an all-India forum representing over 9,500 women entrepreneurs. By means of this partnership, GeM intends to provide direct access for women entrepreneurs with government buyers, sans intermediaries, thereby ensuring better product prices, spurring hyper-local job creation and igniting inclusive growth.

By extending adequate training, onboarding, and linkages, this collaboration is set to empower local businesses, create inclusive economic growth, enhance competition, and boost value addition in public spending.

'At the time of launch of SWAYATT, only about 6300 women-led enterprises and almost 3400 startups were onboarded on GeM. Since then, the platform has grown manifold,' said L Satya Srivinas, CEO of GeM.

'Addressing the challenges of 'access to market', 'access to finance' and 'access to value-addition' through proper e-market linkages in public procurement, GeM has enabled startups to fulfil orders worth Rs 35,950 Crore. Women entrepreneurs comprise 8 per cent of the total seller base on GeM, with a cumulative 1,77,786 Udyam-verified women micro and small enterprises (MSE) registered on the GeM portal, having fulfilled a cumulative order value of Rs 46,615 Crore,' added Shri Srinivas.

Speaking on the occasion, Joyashree Das Verma, President of FICCI--FLO, highlighted how digital platforms like GeM have democratised access to opportunities for women entrepreneurs.

Reiterating the importance of this collaboration in developing value chains and enhancing opportunities for women-led MSEs through advocacy, outreach, and mobilisation, she stressed training as an imperative in expanding the reach of the GeM portal among the association's affiliated members.

Conceptualised as a foundational initiative, SWAYATT today comprises 'Startup Runway' and 'Womaniya' storefronts for dedicated listings, ensuring wider visibility of startups, women entrepreneurs and youth among lakhs of pan-India government buyers. By dismantling entry barriers, GeM is empowering more than 29,000 startups with business opportunities on the GeM platform.

With an ambitious goal of onboarding 1 Lakh Department for Promotion of Industry and Internal Trade registered startups onto the portal, GeM is determined to become a vibrant startup ecosystem in public procurement.

Through meaningful collaborations and capacity-building efforts with last-mile women micro and small enterprises (MSEs), FPOs, SHGs, Startups, and Cooperatives, GeM envisions doubling the number of women entrepreneurs on the portal and increasing their share percentage in overall procurement of the country from the current 3.78 per cent. (ANI)