GeM Achieves Landmark Gross Merchandise Value of Rs 3 Lakh Crore

GG News Bureau
New Delhi, 13th Feb.
 The Government eMarketplace (GeM), a trailblazer in public procurement, has set a new benchmark by recording a Gross Merchandise Value (GMV) of Rs 3 lakh crore, surpassing the previous fiscal year’s total of Rs 2 lakh crore.

Since its inception in 2016 under the visionary leadership of Prime Minister Shri Narendra Modi, GeM has redefined public procurement, fostering ‘Minimum Government, Maximum Governance’ through digital platforms. Linking over 20 lakh sellers and service providers with more than 3 lakh government buyers, GeM has streamlined the procurement process, eliminating malpractices and enhancing transparency in government spending.

Notably, the services segment has been instrumental in GeM’s success, witnessing a remarkable surge from approximately Rs 66,000 crore to Rs 1,30,984 crore in FY 23-24. The platform’s concerted efforts to onboard various government bodies have led to increased engagement, with states like Uttar Pradesh, Gujarat, Maharashtra, Madhya Pradesh, and Delhi emerging as top procurers.

GeM’s inclusive approach extends support to marginalized seller segments such as artisans, weavers, MSEs, women-led and SC/ST MSEs, SHGs, FPOs, and startups. Nearly 50% of the total order value transacted through the platform has been awarded to MSEs, with orders worth Rs 22,200 crore fulfilled by women-led MSEs alone.

In addition, GeM has created 392 new categories under the “One District, One Product” marketplace, enhancing visibility for India’s arts and crafts. By facilitating end-to-end activities of public procurement processes, GeM continues to drive transparency, efficiency, and inclusivity, revolutionizing India’s public procurement domain.

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