Steel industry body ISA inks pact with GeM to help MSMEs in supply and procurement

This will be another major help to the MSME buyers of steel, it said.

Indian Steel Association (ISA) on Friday said it has signed an agreement with the Government e-Marketplace (GeM) to help MSMEs in supplying their products and make procurement through the online marketplace.

''ISA proudly announced the signing of a Memorandum of Understanding (MoU) with GeM. This partnership aims to facilitate the integration of all ISA members onto the GeM platform, both as sellers and buyers,'' ISA said in a statement.

The main objective of this collaboration is to support Micro, Small, and Medium Enterprises (MSMEs) in supplying their products as well as make procurement through the online platform, ISA Secretary General Alok Sahay said.

The agreement, which was signed on October 4, seeks to promote knowledge exchange and direct communication between ISA members and GeM.

ISA represents around 65 per cent of the country's crude steel producers.

''GeM plans to launch an effective government interface for financing as well. This initiative is scheduled for implementation in the coming months and will involve the onboarding of various banks, as informed by GeM authorities. This will be another major help to the MSME buyers of steel,'' it said.

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