Govt Of India’s Marketplace Beats Amazon, Flipkart In Price, Range Of Products
The Economic Survey 2021-22, presented by Finance Minister Nirmala Sitharaman on Jan 31, 2022 is followed by the Budget 2022 session, starting Feb 1, 2022.
The pre-Budget Economic Survey reviews the economic development over the past financial year, collated on the basis of detailed statistical data from all the sectors, along with examination of India’s macroeconomics in the past financial year, and highlights fiscal developments, external sector developments, monetary management, and inflation data, among others.
According to Survey analysis, the prices of various commodities on the Government e-Marketplace (GeM) portal, when compared to those of renowned e-commerce platforms Amazon and Flipkart, showed that the GeM prices were 9.5% cheaper than the counterpart.
Prices on GeM Portal Lower than Amazon, Flipkart
According to the Economic Survey 2022, a cost analysis of some commodities on the GeM portal was conducted, compared to those on other platforms.
It was found that 10 out of 22 commodities in the sample were cheaper on the GeM portal compared to other famous online e-comm platforms.
For instance, a Parker Jotter Standard Ball Pen was offered at Rs 200 on the GeM platform, compared to Rs 207 on other platforms. A 1500ml Milton thermos cost Rs 1,101 on GeM and Rs 1,499 on other platforms.
Some other products used for price comparison in the analysis included Godrej Interio Elite Mid Back Chair, Bajaj Pulsar 220 F, Godrej Interio Steel Almirah 2400 mm and Samsung Basic Television TV 43 Inch LED Backlit LCD, among others, cited an ET report.
The survey stated, “The use of this e-marketplace has resulted in a substantial reduction in prices in comparison to the rates used earlier, with average prices falling by at least 15-20%, up to 56%”.
Besides, the World Bank had found that GeM provided average savings of 9.75% on the median price from February 2019 to Jan 2020, and the top 5 categories extended savings ranging from 23.5-60.5%.