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Government procurements worth Rs 3,500 crore (Rs 35 billion), effected through the DGS&D rate contracts, have gone online from Monday with the launch of e-bids system in New Delhi.
Inaugurating the e-bids of the directorate general of supplies and disposals, Minister of State for Commerce Jairam Ramesh said while the DGS&D procures goods worth Rs 3,500 crore per annum, the rate contract of the premium procuring agency influences the procurement market worth Rs 10,000 crore (Rs 100 billion).
"The e-bids system would result in transparency in government procurement," Ramesh said, adding that the e-procurement has been one of the major thrust areas of the Prime Minister's Office.
The software for the Rs 7.5 crore (Rs 75 million) system has been prepared by the National Informatics Centre, while HCL Ltd is the hardware vendor.
Another private firm, C1 is the portal operator.
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