Procurement from Government e-Marketplace crosses Rs. 2L crore this year
India's Government e-Marketplace (GeM) portal has reached a notable milestone, as the procurement of goods and services surpassed Rs. 2 lakh crore in the current fiscal year. The portal, which was launched on August 9, 2016, enables online purchases for central government ministries and departments. Commerce and Industry Minister Piyush Goyal shared the news on X, stating, "Gem of a landmark! Government e-Marketplace achieves an impressive Rs. 2 lakh crore gross merchandise value in just eight months of 2023-24."
Procurement value growth
Compared to the previous fiscal year, GeM's procurement value has experienced significant growth. In 2021-22, the procurement value was at Rs. 1.06 lakh crore. It exceeded Rs. 2 lakh crore last year, and based on current trends, it could potentially surpass Rs. 3 lakh crore this year. The rise in procurement value can be credited to increased purchasing activities by various ministries and departments.
GeM's user base and offerings
With over 63,000 government buyer organizations and more than 62 lakh sellers and service providers, GeM offers a vast array of products and services. The portal facilitates transactions for government departments, ministries, public sector units, state governments, and central armed police forces. GeM features products ranging from office supplies to vehicles, with key categories including automobiles, computers, and office furniture. Services such as transportation, logistics, waste management, webcasting, and analytical services can also be found on the portal.
Global ranking of GeM
Globally, GeM ranks third among e-procurement platforms, following Singapore's GeBIZ and South Korea's KONEPS - the world's largest platform of its kind. GeM's success underscores the increasing significance of digital procurement solutions for governments, providing enhanced efficiency, transparency, and user-friendliness for both buyers and sellers.
