From News Desk
The government has released the GeM Vendor Assessment Policy V3.3. The provisions in this policy indicate large scale implications for the MSMEs.
According to a note sent by the GeM Team to a seller, which was shared to this Editor by the FAIITA President Devesh Rastogi, the GeM team note says, “This is to inform you that the latest GeM Vendor Assessment Policy V3.3 has been released. As per the updated policy, the turnover-based Vendor Assessment (VA) exemption for sellers with a turnover of more than 500 Cr in any of the last three years has been discontinued. This exemption will no longer be available for new Vendor Assessment Exemption (VAE) applications.”
The note further says, “OEMs registered on GeM with OEM Dashboard for their brands in one or more categories must possess a valid Vendor Assessment (VA), or Vendor Assessment Exemption (VAE) for the respective categories. OEMs that do not have a valid VA/VAE, including those with expired VA/VAE, are required to apply for and complete the VA or VAE process as per the updated Vendor Validation Policy V3.3 on GeM without delay. Non-compliance with this requirement will lead to the removal of the OEM Dashboard. associated brands and product catalogues from the GeM Marketplace in accordance with GeM policies.”
The note concludes, “Please refer to Vendor Validation Policy V3.3 on GeM or contact the GeM Helpdesk for any further assistance.
Regards,
Team GeM”
Devesh Rastogi, Chairman, FAIITA and Chairman, MAIT MSME says, “This is a major reform in favour of MSMEs and Indian brands. Now, the Indian brands are more relevant.”
In the wake of US Tariff of 50% on Indian goods entering the US, this could be a major strategy to counter the US tariffs. It remains to be seen what kind of implications this has.
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