Procurements e-Marketplace (GeM) portal crossed Rs 2 lakh crore this fiscal year
By siliconindia | Monday, November 13, 2023
The Government e-Marketplace (GeM) has witnessed a significant increase in procurement of goods and services worth over Rs 2 lakh crore, due to the higher buying activities of various ministries and departments. GeM is an online portal that was launched in August 2016 to facilitate purchases of goods and services by all central government ministries and departments. Commerce and Industry Minister Piyush Goyal announced on social media platform X that "the Government e-Marketplace has achieved a massive Rs 2 lakh crore gross merchandise value in just eight months of the current fiscal year, which is a significant milestone".
The procurement value in 2021-22 was Rs 1.06 lakh crore. Last year, it crossed Rs 2 lakh crore, and based on the current trend, it may cross Rs 3 lakh crore this year. The Government e-Marketplace (GeM) has more than 63,000 government buyer organizations and over 62 lakh sellers and service providers, providing a wide range of products and services. This portal is accessible to government departments, ministries, public sector units, state governments, and central armed police forces for carrying out transactions.
The portal offers a broad range of products, ranging from office supplies to vehicles. Some of the primary product categories include automobiles, computers, and office furniture. Additionally, the portal lists various services, such as transportation, logistics, waste management, webcasting, and analytical services. KONEPS, based in South Korea, is the largest platform of this kind in the world. Currently, GeM ranks third among similar platforms, after Singapore's GeBIZ.
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