Six Years of SWAYATT Initiative
Recently, the Government e Marketplace (GeM) celebrated six years of its SWAYATT initiative. Launched in 2019, SWAYATT aims to enhance participation of women and youth in public procurement. The initiative focuses on social inclusion and aims to make business easier for startups and Micro & Small Enterprises (MSEs).
Objectives of SWAYATT Initiative
SWAYATT was designed to invigorate the involvement of women-led enterprises and youth in government procurement. It seeks to establish direct market linkages for these groups. The initiative promotes training for last-mile sellers and encourages small businesses to engage in public procurement.
Recent Developments and Partnerships
On its anniversary, GeM signed a Memorandum of Understanding (MoU) with the Federation of Indian Chambers of Commerce & Industry Ladies Organisation (FICCI-FLO). This partnership aims to connect women entrepreneurs directly with government buyers. The goal is to eliminate intermediaries and ensure better pricing for products.
Growth and Impact
Since its inception, SWAYATT has increased the number of women-led enterprises on the GeM platform. Initially, only 6,300 women-led enterprises and 3,400 startups were onboarded. Today, over 1,77,786 Udyam-verified women MSEs have registered. They have collectively fulfilled orders worth ₹46,615 Crore.
Focus on Training and Capacity Building
Training is important component of the SWAYATT initiative. GeM aims to empower local businesses through comprehensive training and onboarding. This will enhance competition and promote inclusive economic growth.
Future Goals
GeM has set ambitious targets for the future. It aims to onboard 1 lakh registered startups onto the platform. The initiative envisions doubling the number of women entrepreneurs participating in public procurement. Currently, women make up 8% of the seller base on GeM.
Dedicated Storefronts
SWAYATT includes specific storefronts like Startup Runway and Womaniya. These are designed for dedicated listings to increase visibility among government buyers. The initiative aims to dismantle entry barriers for startups and women entrepreneurs.
Economic Empowerment
GeM’s efforts are contributing to job creation and inclusive growth. By facilitating access to markets, finance, and value addition, SWAYATT helps empower women and youth. The initiative is encouraging a vibrant startup ecosystem in public procurement.
Month: Current Affairs - February, 2025
Category: Government Schemes Current Affairs