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GeM Surpasses ₹4 Lakh Crore GMV, Doubles Business in a Year

Estimated reading time: 3 minutes

Government e-Marketplace (GeM) has concluded this financial year with a remarkable Gross Merchandise Value (GMV) of ₹4 lakh crore, a significant leap from the previous fiscal year’s GMV, underscoring the portal’s digital prowess in facilitating efficient, transparent, and seamless public procurement processes.

The procurement of services through the GeM portal has been a driving force behind this impressive GMV surge. Almost 50% of the total GMV is attributed to service procurement, marking a notable 205% increase compared to the previous fiscal year. GeM’s platform has effectively democratized government tenders, enabling small domestic entrepreneurs to participate from anywhere, at any time, thus breaking the monopoly of established service providers.

States’ increased engagement has also contributed significantly to this surge in GMV. Leading states like Gujarat, Uttar Pradesh, and Delhi have exceeded their respective public procurement targets, indicating widespread adoption and success. Central entities, including Ministries and CPSEs, have played a pivotal role, accounting for approximately 85% of the ₹4 lakh crore milestone. Ministries such as Coal, Power, and Petroleum & Natural Gas, along with their subsidiaries, stand out as the highest procuring entities at the central level.

GeM’s extensive network of over 1.5 lakh government buyers and 21 lakh sellers and service providers has been instrumental in achieving this feat. By integrating Panchayats, Cooperatives, and other grassroots entities into its procurement ecosystem, GeM has facilitated sustainable procurement practices and optimized public spending at the grassroots level.

Shri PK Singh, CEO of GeM, highlighted the platform’s inclusive initiatives like ‘Vocal for Local’, ‘One District, One Product’, ‘Startup Runway’, and ‘Womaniya’, which have provided opportunities for marginalized seller segments, including artisans, weavers, MSEs, women-led enterprises, SC/STs, SHGs, FPOs, and startups. GeM’s collaboration with over 5.2 lakh Common Service Centers (CSCs) and 1.5 lakh India Post offices has further expanded its outreach and capacity-building efforts, fostering job creation and income generation across regions.

Earlier this financial year, GeM partnered with Tata Consultancy Services to enhance its technological infrastructure, aiming to improve user experience, transparency, and inclusivity. The platform offers over 12,070 product categories and 320+ service categories, making it a one-stop destination for seamless public procurement, thus providing opportunities for sellers and service providers nationwide to participate in government tenders transparently.

GeM, which commenced its journey with a GMV of ₹422 crore in 2016, has rapidly evolved into one of the leading public procurement platforms globally. Committed to enhancing efficiency, transparency, and inclusivity, GeM continues to disrupt the public procurement domain, promising further advancements in the future.

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