Ministry of Defence Surpasses ₹1 Lakh Crore Milestone in GeM Transactions
GG News Bureau
New Delhi, 15th Feb. The Ministry of Defence (MoD) has achieved a remarkable feat by surpassing the ₹1 Lakh Crore mark in total order value transacted through the Government e-Marketplace (GeM) portal, known as Gross Merchandise Value (GMV).
In the current financial year, transactions worth approximately ₹45,800 Crore have been awarded. GeM has facilitated the procurement of various items, ranging from general store essentials like eggs to critical defence acquisitions and missile systems, with MoD executing over 5.47 lakh orders.
Shri P. K. Singh, CEO of GeM, emphasized that the Ministry is the first central government entity to achieve this milestone, showcasing its unwavering commitment to optimizing public spending in the Defence sector. This accomplishment reflects MoD’s dedication to supporting Prime Minister Shri Narendra Modi’s vision of a self-reliant India.
GeM’s focus on social inclusion is evident, with 50.7% of total orders, amounting to ₹60,593 Crore, being awarded to Micro and Small Enterprises (MSEs) by MoD buyers, contributing to India’s economic self-reliance.
Since its inception, MoD has been an enthusiastic participant in GeM, with nearly 19,800 buyers across the country, including remote areas like North-Eastern States, Leh-Ladakh, and various Island Territories, demonstrating trust in the portal and contributing to this significant achievement.
The engagement of Defence PSUs on the GeM platform has not only streamlined procurement but also facilitated sales, marking a shift in the procurement landscape.
Through initiatives like demand aggregation modules, GeM continues to enhance cost-effectiveness and efficiency in government transactions. By consolidating requirements for similar products across different organizations, GeM maximizes the benefits of large-volume procurement for buyers like the Ministry of Defence, driving transformative change in government procurement practices.
