Question: What is SWAYATT?
(a) An initiative to promote start-ups, Women and Youth advantage
(b) An employment scheme
(c) A poverty eradication programme
(d) None of the above
- Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, launched SWAYATT in New Delhi on 19th February 2019.
- SWAYATT is an initiative to promote start-ups, Women and Youth Advantage through eTransaction on Government eMarketplace (GeM).
- This will bring together the key stockholders within the Indian entrepreneurial ecosystem to Government e-Marketplace the national procurement portal.
- Commerce Minister also dedicated GeM start-up Runway- an initiative of GeM in association with Start-up India to facilitate Start-ups registered with Start-up India to access the public procurement market and sell innovative products and services to government buyers.
- Approximately 1,516 Start-ups are presently registered on GeM with 12,915 products to offer and have received more than 5,000 orders till date.
- GeM was setup in 2016 and has 801,956 products and 5,197 services with 199,654 registered seller, service providers and 33,536 government buyers. Since inception, GeM has processed 1,386,030 orders worth Rs. 19,214 crore in gross merchandise value.