New Delhi, June 28 : More than 10 lakh micro and small enterprises (MSEs) have joined the Government e-Marketplace (GeM) portal and total transaction value on GeM has reached around Rs 5.40 lakh crore in FY2024-25, a top government official said on Saturday.

Ajit B Chavan, Additional CEO, GeM, said the platform is a window for the MSMEs for supplying to government departments.

Addressing at a PHDCCI event on the occasion of the 'World MSME Day,' he shared about the transparency of the GeM portal and opportunity it offers to the MSMEs for supplying goods to various departments.

Chavan further highlighted about the GeM Sahay, which brings a complete financing solution for small businesses on GeM. The app assists in availing instant financing to serve the Government orders without any hassle.

DP Goel, Co-Chair, MSME Committee, PHDCCI, stressed upon the need for rural entrepreneurship development to promote businesses and employment in the remote areas for their growth and development.

Dr HP Kumar, former CMD, NSIC and advisor, PHDCCI mentioned that MSMEs are increasingly seen as a model for other countries due to their significant contributions to economic growth, job creation and innovation, particularly in developing nations.

'Their agility, adaptability, and ability to foster entrepreneurship make them attractive examples for other economies to emulate. He also stressed on the need for new enterprise creation while promoting the existing ones for their capacity building and growth,' he highlighted.

V.K. Jain, Senior Manager, National Research Development Corporation (NRDC), highlighted that NRDC is India's leading technology transfer organisation with seven geographical footprints all over India to cater to the different technology requirements of MSMEs and startups.

He also shared some examples of success stories of NRDC in commercialising the technologies, urging the participants to reach out to NRDC for any technology or IPR support required by the MSMEs and start-ups.

/IANS