Now, Get Free Access to Indian Tenders at TendersOnTime
Unlimited, Lifetime Free web Access to Indian Tenders More Than 5 Crore SMEs and Large Indian Firms to Get Benefited and Grow Faster Customized Daily Email Alerts at a Very Nominal Fee of Rs. 100 Per Month End-to-end Bid Facilitation and Consultancy Services with the Help of Local agents in 40+ Countries TendersOnTime is breaking new ground by providing detailed information of Indian Tenders, EOI (Expression of Interest), E Procurement, E Tender, RFP, EOI, bidding, online auctions and RFQ on daily basis. TendersOnTime, the most trusted and authentic source of Global Tenders updates its subscriber with various information, related with Public Procurement, in a timely manner.
Through its professional team, partners and experts in public procurement domain, TendersOnTime also makes it possible that key information is processed efficiently and in timely manner. Sanjay Vyas, Co-founder and CEO of Global Tenders Services Pvt. Ltd., the company behind TendersOnTime, says, "We offer free web access to all Indian firms for Tenders that are floated in India. We believe a free web access will help five crore SMEs and large Indian firms grow faster. We firmly believe in India's growth story. Our end-to-end Bid Facilitation and Consultancy Services that we provide with the help of our local agents in 40+ countries is created to empower our clients from India." Mr. Vyas further informed that apart from serving individual suppliers, contractors, consultants; they also provide tenders and other procurement opportunities in bulk to entities like: Associations, Chamber of Commerce, Industry specific portals/verticals, Content aggregators, Export Promotion Councils/organizations, trade bodies etc.
The information is available to content syndication industry as well, on very nominal charges. Need for One Stop Shop If there is one customer who will keep buying at all times, it is the government. Typically, governments across the globe spend 10-20% of their GDP on public procurement. The total GDP of the whole world in 2017 was around 128 Trillion USD (as per World Bank report 2017). If the average public procurement spend is calculated at 15% of GDP, it translates in to a whopping 19.20 Trillion USD worth of business opportunities every year. This is huge. All government buying is more specifically called Public Procurement. The word 'Public' implies that the procurement is being done for the public from money received in the form of taxes.
Since the procurement officers have to deal with public money, it is imperative for them to maintain transparency and efficiency. Thus, it ensures that the procurement activity is undertaken with sufficient caution, and that the funds are utilized judiciously and efficiently. Every country has its own set of rules/legislations for public procurement. Procurement methods adopted by the World Bank are supposed to be the best; and adopted by many other funding agencies and local governments, may be with a few modifications/localizations. Almost across all countries, it is mandatory for all governments and quasi-government organizations to publish their procurement information in local newspapers, national newspapers, own website, funding agency websites etc.
The objective is to get maximum circulation of their buying requirement and hence attract wider participation. The first such notice published is known as the 'Tender Notice'. In the pre-Internet era, these buying requirements/tenders/opportunities could not be circulated to a wider supplier base, and hence the competition used to be very thin. Common methods used to be: faxes, embassies, local agents etc. But with the advent of the Internet, collection, collation and dissemination of this information to suppliers as per their profile, have not only become faster, but also easier.
The question here is should the businesses from India, the sixth largest economy of the world, be looking only for local demand? If the business unit is good enough to be a vendor to the government of India, it should be good enough for most other countries as well. There are going to be similar opportunities in other parts of the world, particularly the developing nations of Asia and Africa. There is a need to access the information about opportunities, with complete details and on right time. In India alone, one will be surprised to know that the Indian government (including all PSUs, Ministries, State Governments, etc.) spends whopping 470 billion USD through Public Procurement (18% of India's Total GDP of 2.6 Trillion as per IMF). Considering the fact that India's GDP is among the fastest growing in the world and the governments have a sizeable social agenda, this is expected to be even bigger in future.
Whether it is the setting up of oil extraction units or the toilet units as a part of 'Clean India Mission', most of these public procurements would be sourced by way of Public Tenders. Technology has been a great enabler in this. It is not even a couple of decades ago that the companies in oil exploration and marketing such as ONGC, Indian Oil, Hindustan Petroleum, Bharat Petroleum and IBP together spent close to Rs. 100 Crores every year in Tenders advertisement. Major national dailies had 3-4 pages of Tender advertisements almost every day. This was brought down to below 20% after the government allowed these companies to put the Tenders on their websites and a mere announcement, through much smaller advertisements, was made through newspapers. Tax payers' money was saved. As the tax payers' hard-earned money was being saved, another service segment was born - Online Tenders. At a fee, Tenders were made available to subscribers of these services by a host of vendors.
Over time and after advancements in Internet technologies, though these services attained a bit of finesse, none of them were complete. Some lacked the depth in service while the others were performing a part of the task manually and therefore struggled to keep their businesses viable. Almost all of them have their business models based on subscription fees and were unable to match up with rising costs. This forced them to compromise on service quality. Most of them were trapped in this vicious cycle. Change Coming Here Too Sanjay Vyas adds, "I was talking to a small manufacturer of moulded plastic toilets with governments and various agencies in India as the main clients. He mentioned that the price of each toilet, what was sold above Rs. 30,000 a piece some years ago has come down to Rs. 12,000 or even less.
He also mentioned that higher volume and innovation in production has brought the costs down. Now, imagine how many countries can he export these pre-fabricated toilets. All that he needs is the free, timely and unhindered access to governments' tenders. He is capable of supplying a toilet at USD 169 a piece, a decent toilet at a world-class price. Give him the Tender Notice information, project information, business news, contract award information, any corrigendum, etc. and he is confident of beating all globally." Governments generally purchase products/services like construction work, infrastructure projects, medicines, hospital equipment and supplies, school text books, control and automation products, power plants, software, electrical projects, highways, roadways, airports, plants and machineries, consultancy services etc. MRO items are also purchased by governments.
Mr. Vyas also informed about the unique Tenders Publishing services offered to government purchasers around the world. Publishing tender notices on Tendersontime, brings larger publicity among the target supplier group, which in turn brings more competition, increased procurement efficiency and hence ultimate saving of tax payers money. There are more than 500,000 organizations from around the world of different sizes, who are selling to governments through the tendering process. Very few of these are from India. They need to have a larger participation. About TendersOnTime TendersOnTime is a domain owned and maintained by Global Tenders Services Pvt. Ltd (GTS). The company has been promoted by a group of first generation enthusiastic entrepreneurs, having more than 50 years of cumulative business and operations expertise across various verticals. The leadership team consists of members who have excelled in their fields across various geographies of the globe.
- 2 MPC members Chetan Ghate and Viral Acharya were for status-quo in rates; decision on changing stance to neutral was unanimous: RBI.
- Piyush Goyal lauds RBI decision of rate cut; says it will boost economy
- SC imposes Rs 50,000 fine on RJD leader Tejashwi Yadav for challenging government decision asking him to vacate bungalow meant for deputy CM.
- Australia's decision to rescind my visa based on speculation: Chinese businessman
- SC refuses to stay decision to give 10 pct EWS quota among upper castes