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Within the first eight months of the financial year 2023-24, the government's power market platform will generate Rs. 2 Lakh Crore is a new record of total trade value
  • Surpassing the Gross Merchandise Value (GMV) for the entire last financial year (2022-23), the Gross Merchandise Value (GMV) within the first eight months of the current financial year is Rs. 2 Lakh Crore, the Government E-Marketplace (GEM) has achieved a significant milestone
  • Central Government Institutions including Central Public Sector Undertakings have contributed significantly to this important achievement in the current financial year. Their value is 83 percent.
  • The remaining 17 percent is contributed by state governments. States and Union Territories such as Uttar Pradesh, Gujarat, Maharashtra, Delhi, Madhya Pradesh, Jammu and Kashmir, Odisha, Bihar, Assam, Uttarakhand have processed a significant amount of purchase orders through this platform in the current financial year.
  • GEM's expansion into the service sector has also played an important role in its performance. The value of purchase orders in the services segment has grown exponentially in the last 3 years. Trade in services has increased to nearly 46 percent in the current fiscal from 23 percent in 2021-22.
  • Since the launch of GEM platform Rs. 5.93 Lakh Crore has crossed the total trade value. The total number of transactions in GEM has crossed 1.8 crore. The GEM is a catalyst for digital transformation and a milestone in the "Make in India" initiative to promote domestic manufacturing.
Institute of Corporate Affairs of India, MoU with Lean Campus Startups (Foundation) & Vesey India to empower women entrepreneurs
  • Indian Institute of Corporate Affairs (IICA), Lean Campus Startups (Trust) & VICE India signed an MoU today (13-11-2023) at Manesar, Gurugram. The MoU was signed by Dr. Latha Suresh of IICA and Mr. Umesh Rathod, Founder of Lean Campus Startups.
  • It aims to empower corporates and women entrepreneurs, improve their knowledge, skills and manage workforce. In association with IICA, Lean Campus Startups will provide training programs for women entrepreneurs and students.
  • Empowering women entrepreneurs by providing them with resources, training, mentoring and other support mechanisms.
400 million dollar loan agreement between Central Government and Asian Development Bank to build high-quality urban infrastructure
  • The Central Government today (13-11-2023) signed a $400 million policy-based loan agreement with the Asian Development Bank for building high-quality urban infrastructure, improving service delivery in urban areas, efficient governance systems, etc.
  • The Loan Agreement for Sub-Plan 2 of the Sustainable Urban Development and Service Delivery Program was signed by Ms. Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance, and Mr. Takeo Konishi, Director, India Division, Asian Development Bank.
  • Sub-Plan 1 was approved in 2021 with a funding of $350 million to improve urban services. At present this sub-programme supports investment planning and reform activities at 2 state and urban local government levels.
UN India votes against Israel in the House
  • Last Thursday, 145 countries, including the United States and India, voted in favor of a proposed resolution in the United Nations General Assembly condemning Israeli settlements in the occupied Palestinian territories.
  • Only 7 countries voted against it. 18 countries did not participate in the referendum. UN It has been reported that the resolution did not mention anything about the attacks on October 7. The decision comes amid increasing attacks on Gaza. India boycotted the vote last month when a resolution on the Israel-Hamas ceasefire was brought to the United Nations.

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