Imagine a world where startups, women entrepreneurs, and small businesses have direct access to government procurement without unnecessary red tape. A globe where the spark of creativity goes hand in hand with the availability of a digital bridge that brings government buyers and sellers together. The above-mentioned embodiment has been made true through the Government e-marketplace (GeM) by the SWAYATT initiative.

Firstly, let’s understand what the SWAYATT Initiative;

What is the SWAYATT Initiative?

In 2019, the SWAYATT Initiative was launched to increase inclusivity in public procurement. The goal is to make startups, women entrepreneurs, and young entrepreneurs an integral part of the Government e-Marketplace (GeM), India’s digital procurement platform.

The priority for this initiative is to take away the obstacles that were involved in the past, thus contributing to the greater mobility of the small business sector in government contracts, and it is the principle behind which games are played at the same level for all.

What is the Government e-Marketplace (GeM)?

Government e-marketplace (GeM) is an online platform that was established in 2016 and is designed to facilitate public procurement. Being the Ministry of Commerce and Industry's manager, GeM is a platform that enables the transparent, efficient, and cost-effective reallocation of funds between government buyers and verified sellers.

The digital market has made procurement progress by taking over the traditional processes with the Jiffy system, which is easy to use and allows contractors to make decisions faster and track purchases in real time.

The Impact of SWAYATT on Public Procurement

The SWAYATT Initiative has come a long way ever since its launch, marking its trace in the public procurement sector concerning the most marginalized social groups. Among the achievements are:

• Empowering Women Entrepreneurs - There is a significant increase of women-led businesses, which is now 8% entailed on the Government E-Marketplace (GeM) this growth is continuous.
• Boosting Startup Participation - The SWAYATT Initiative has facilitated a conducive environment for startups, opening the doors of government contracts to them without red tape.
• Encouraging Youth Entrepreneurship - Young creative minds with the most thrilling ideas can easily upload their products and services on the platform, thus getting direct access to government buyers.
• Enhancement of Transparency and Efficiency - The Government e-Marketplace (GeM) has eradicated the sense of middlemen, thus ensuring fairness and accountability over procurement.

Why Does SWAYATT Initiative Matter?

Launched by the Government e-Marketplace (GeM) in 2019, the SWAYATT initiative aims to enhance the participation of women-led enterprises, youth, and startups in public procurement. Since its inception, the initiative has witnessed remarkable growth, with over 1.77 lakh Udyam-verified women-owned MSEs registered and successfully fulfilling orders worth ₹46,615 crore.

1. Economic Growth and Job Creation

SWAYATT is fostering economic growth by supporting startups, women, and youth entrepreneurs. These companies not only provide employment opportunities but also contribute to India’s GDP, thus, developing and making the existence of angel investors make them available are both growing and indispensable. Creating a better ecosystem for women and young people in India's tech sector is also in this field.

2. Inclusive Development

Many government contracts were obtained by large corporations that left small businesses with fewer chances. SWAYATT is the missing link to the ultimate aim of the government. This necessary project aims to provide equal opportunities for small businesses to indulge in public procurement.

3. Encouraging Innovation

At times, these startups cater to the creation of solutions that are not only patrons of different industries but also endow the government concerning them. Developing a strategy for an innovative project focusing not only on SWAYATT but also on how the government can adopt the latest technologies & products.

How SWAYATT Works on the Government e-Marketplace

At the launch of SWAYATT, GeM had onboarded approximately 6,300 women-led enterprises and around 3,400 startups. "Since then, the platform has expanded significantly," stated Shri L. Satya Srivinas, CEO of GeM.

By providing e-market linkages in public procurement, GeM has tackled challenges related to market access, financing, and value addition, enabling startups to fulfill orders worth ₹35,950 crore.

Even though SWAYATT has achieved remarkable progress, there still exist some microscopic issues that need to be resolved:

• Digital Literacy: There are many small entrepreneurs who are less intelligent and do not know the technical part of GeM correctly.
• Access to Finance: More often, startups and women entrepreneurs face the challenge of the absence of funds not enough for the scaling of their businesses.
• Awareness and Outreach: The biggest challenge that this program encounters is a lack of communication between the stakeholders SWAYATT has signed an MoU with and them being ignorant of the benefits these businesses accrue from participating in SWAYATT.

The Future of SWAYATT and GeM

The GeM platform which the government has been constantly upgrading with the help of AI-driven analytics, has been used to analyze data and to teach the personnel, is now getting more financial support for small businesses than the last year. With the progressive program of the government that will be implemented all over the country, the need for technology to implement it will grow stronger.

Conclusion

SWAYATT Initiative on Government e-Marketplace (GeM) is more than the reform of procurement but a movement that is empowering those who are least represented in the market that is, small businesses, women, and youth, giving them a fair shot at success.

Through a more inclusive, transparent, and efficient public procurement process, SWAYATT is reshaping the India of tomorrow, where innovation and entrepreneurship will be the engines of growth.

The word from this sixth-anniversary event is quite clear: The happy few should not be the ones who grab the opportunities. SWAYATT has given individuals the chance to be available in the government procurement market.

Frequenty Asked Questions (FAQs)

Q1. What is the SWAYATT Initiative?

SWAYATT (Start-ups, Women, and Youth Advantage Through e-Transactions) is a government initiative aimed at promoting the participation of startups, women entrepreneurs, and MSMEs in public procurement via the Government e-Marketplace (GeM).

Q2. How does SWAYATT benefit MSMEs and startups?

SWAYATT enables MSMEs, startups, and women-led businesses to access government procurement opportunities easily through GeM, ensuring transparency, fair competition, and reduced paperwork.

Q3. What role does GeM play in the SWAYATT Initiative?

GeM is an online platform that facilitates public procurement of goods and services by government departments. Under SWAYATT, GeM provides a streamlined, digital, and efficient procurement system for MSMEs and startups.

Q4. Who can register under the SWAYATT Initiative on GeM?

Eligible participants include startups, MSMEs, women entrepreneurs, self-help groups (SHGs), and youth-led enterprises looking to supply products and services to government buyers.

Q5. How can businesses register for GeM under the SWAYATT Initiative?

Businesses can register on the GeM portal (https://gem.gov.in/) by providing essential details like GSTIN, PAN, and bank account information. After registration, they can list products/services and start bidding for government contracts.

Q6. What are the key advantages of SWAYATT for public procurement?

SWAYATT promotes inclusivity, reduces procurement costs, enhances transparency, and ensures faster transactions, benefiting both buyers and sellers in the public procurement ecosystem.