In the realm of public sector enterprises, NLC India Limited has emerged as a prominent player, demonstrating remarkable growth in recent years. Under the aegis of the Ministry of Coal, this central public sector enterprise has made significant procurements worth ₹1003 Crore through the Government e-Marketplace (GeM) during the fiscal year 2022-23. With a substantial increase from ₹517 Crore in the previous year, NLC India Limited’s involvement in GeM is a testament to its commitment to efficiency and expansion.
Overview of NLC India Limited
NLC India Limited, formerly known as Neyveli Lignite Corporation Limited, is a premier public sector enterprise in India operating in the energy sector. Established in 1956, the company primarily focuses on lignite mining and power generation. Over the years, NLC India Limited has diversified its operations and ventured into renewable energy, coal mining, and other related activities.
The Significance of GeM
The Government e-Marketplace (GeM) is an innovative online platform launched by the Government of India to streamline the procurement process for government departments and organizations. GeM provides a convenient and transparent platform for businesses to showcase their products and services, while government entities can procure goods and services efficiently.
By leveraging GeM, the government aims to promote transparency, accountability, and efficiency in public procurement. The platform offers numerous benefits, including cost savings, increased competition, and reduced paperwork, thereby enabling seamless transactions between buyers and sellers.
NLC India Limited’s Procurements on GeM
In the fiscal year 2022-23, NLC India Limited has showcased its proactive approach by making procurements worth ₹1003 Crore through GeM. This significant investment demonstrates the company’s trust in GeM’s capabilities and its commitment to leveraging the platform’s advantages for efficient procurement.
By utilizing GeM, NLC India Limited can access a wide range of suppliers and products, ensuring competitive pricing and quality assurance. The platform’s user-friendly interface and robust features make it easier for the company to navigate the procurement process and make informed decisions.
Growth of NLC India Limited on GeM
NLC India Limited’s growth on GeM has been nothing short of remarkable. Comparing the fiscal years 2021-22 and 2022-23, the company has nearly doubled its procurement value on the platform. With a substantial increase from ₹517 Crore to ₹1003 Crore, NLC India Limited has emerged as a major contributor to GeM’s success story.
This impressive growth reflects the company’s strategic vision and its ability to adapt to evolving market dynamics. NLC India Limited’s enhanced participation in GeM has not only strengthened its own procurement capabilities but has also contributed to the overall growth and efficiency of the platform.
Future Prospects and GeM’s Expectations
GeM is optimistic about future collaboration with NLC India Limited. The company’s consistent growth and increased participation on the platform inspire confidence in its potential to drive further advancements in public procurement.
GeM expects NLC India Limited to continue its robust engagement on the platform and expand its procurement horizons. By leveraging GeM’s extensive supplier network and innovative features, NLC India Limited can enhance its efficiency, cost-effectiveness, and overall performance in the procurement domain.