India is currently the 5th largest economy globally and is experiencing rapid growth. It is not far-fetched to envision India becoming the third-largest economy soon. Under the leadership of the Modi Government, India is expected to reach a GDP of $5 trillion in the next three years and $7 trillion by 2030 through ongoing reforms and initiatives designed to propel GDP growth.

Achieving a $5 trillion economy signifies a significant leap in India's economic status, translating into more jobs, improved infrastructure, better living standards, and greater global influence. Which ultimately means rapid industrialization, technological advancements, an increase in both domestic and international investments, and initiatives to foster a competitive environment for startups and PSUs alike. 

Key sectors that will be prioritized to turn PM Modi's vision into reality

Water & Sanitation 

Saving lakhs of lives due to better sanitation and reducing healthcare expenditure on diseases, leaves people better placed to aspire for a greater economic future. India has made significant progress in water security. Modi government's vision towards 2047 will be a big contribution to Amrit Kaal. The country is collaborating to construct 75 Amrit Sarovars in each district. Currently, 25,000 Amrit Sarovars have been built.

Real-Estate Sector

The decision to establish an Alternative Investment Fund with an initial fund of 25,000 crores to rejuvenate 4.6 lakh housing units will provide a significant uplift to the real estate industry and provide respite to many middle-class and lower middle-class homebuyers facing financial strain.

Infrastructure

Infrastructure will continue to be a key focus. The government plans to invest Rs 100 lakh crore in infrastructure, crucial for reaching a $5 trillion economy and creating jobs, indicating a significant initiative towards GDP growth. Railways and highways will remain top priorities, boosting related sectors like minerals and metals. 

Solar & Renewable Energy

Prime Minister Modi has given his support to sustainable development principles and the International Solar Alliance. The government's goal is to address environmental issues and build a sustainable future for future generations by promoting conservation efforts, climate-resilient infrastructure, and renewable energy. India is committed to following globally recognized environmental norms and aims to have around half of its electricity capacity come from non-fossil fuel sources by 2030.

Revolutionizing Public Procurement: How GeM is Transforming India’s Buying Power

Public procurement is crucial for government operations and economic growth, making up 20-22% of India's GDP, and is a key initiative to propel India towards achieving a $5 trillion economy. Traditionally, it faced issues like inefficiency and lack of transparency. In 2016, the Government e-Marketplace (GeM) was launched to improve this system. By FY 2022-23, GeM reached over INR 2 lakh crore in Gross Merchandise Value and listed millions of products and services. Its competitive practices have saved the government about INR 40,000 crore, enhancing welfare spending without harming fiscal health.

With the advent of e-portals, public procurement processes have undergone a significant transformation, rendering them more transparent and reliable than ever before. Gone are the days of traditional procurement methods, as e-portals now provide a streamlined and efficient platform for conducting procurement activities. 

National Tenders: A Gateway for Businesses to Broaden Markets and Accelerate Growth

National Tenders offers a user-friendly platform where you can easily search for tenders that match your specific business interests. Our team assists with the registration process on various e-procurement portals such as GeM (Government e-Marketplace) and Vendor registration on other platforms.

We also help navigate the tender bidding process by providing guidance, support, and timely reminders to ensure that you submit your bid accurately and on time. Our goal is to make the tendering process as smooth and hassle-free as possible for our clients.With National Tenders, you can stay updated on new opportunities, streamline the bidding process, and increase your chances of winning contracts. Let us help you succeed in the competitive world of government tenders, because “National Tender hai toh tender aasan hai“.