Policy Industrial Sector 2: Economic YouTube Lecture Handouts

Dr. Manishika Jain- Join online Paper 1 intensive course. Includes tests and expected questions.

Government E Marketplace

  • It is a national public procurement platform of Ministry of Commerce and Industries that has used technology to remove entry barriers for sellers and has created a vibrant e-marketplace with a wide range of goods and services.
  • It was launched in 2016. At present, GeM has more than 15 lakh products, around 20,000 services, and more than 40,000 Government buyer organizations.
  • It aims to enhance transparency, efficiency and speed in public procurement.
  • Minimum procurement threshold of 25 per cent goods and services from micro and small enterprises (MSE) .

GEM: Advantages

GEM: Advantages
For BuyersFor Sellers
Rich listing of products for individual categories of Goods/ServicesDirect access to all Government departments.
Search, Compare, Select and Buy facilityOne stop shop for marketing with minimal efforts.
Buying Goods and Services online, as and when required.One stop shop for bids/reverse auction on products/services
Transparent and ease of buying.New Product Suggestion facility available to Sellers
Continuous vendor rating systemDynamic pricing: Price can be changed based on market conditions
User-friendly dash board for Buying and monitoring supplies and paymentsSeller friendly dashboard for selling and monitoring of supplies and payments
Easy Return policyConsistent and uniform purchase procedure

SFURTI: Scheme of Fund for Regeneration of Traditional Industries

Launched in 2005 by Ministry of Micro Small and Medium Enterprises (MSME) with the view to promote Cluster development.

Aims

  • Tapping the E-Commerce as a major marketing channel given the outreach and the growing market penetration of E-Commerce.
  • To equip traditional artisans of the associated clusters with the improved skills and capabilities through training and exposure visits.
  • To organize the traditional industries and artisans into clusters and to make them competitive and to provide support for their long-term sustainability which will ensure economies of scale.
  • To build up innovated and traditional skills, improved technologies, advanced processes, market intelligence and new models of PPP.

ASPIRE: Scheme for Promotion of Innovation, Rural Industry and Entrepreneurship

  • The Scheme will promote Innovation & Rural Entrepreneurship through rural Livelihood Business Incubator (LBI) , Technology Business Incubator (TBI) and by start-up creation in the agro-based industry.
  • It aims for setting up 80 Livelihood Business Incubators (LBIs) and 20 Technology Business Incubators (TBIs) .
  • It has a corpus of 200 crore. It will Prompte entrepreneurs hip culture in India.

Pradhan Mantri Matsya Sampada Yojana

  • Under the scheme, Department of Fisheries will establish a robust fisheries management framework.
  • It will address critical gaps and will strengthen the value chain, including infrastructure, modernization, traceability, production, productivity, post-harvest management, and quality control.

Entrepreneurial and Managerial Development of SMEs through Incubators

  • Under the scheme, early stage funding will be provided to nurture innovative business ideas (new indigenous technology, processes, products, procedures, etc.) that could be commercialized in a year.
  • The scheme provides financial assistance for setting up business incubators.
  • Financial support will be provided with a maximum ceiling of ₹ 62.5 lakh.

Practice Question

Q 1 Consider the following statements about SFURTI Scheme:

1. It was launched in 2015 for boosting development of MSME sector. 2. It aims at tapping the E-Commerce as a major marketing channel and to achieve economies of scale.

Which of the above statements is/are correct?

A) 2 only

B) 1 Only

C) Both 1 and 2

D) Neither 1 nor 2

Answer: A

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