The procurement of goods and services from the Government e-Marketplace (GeM) crossed ₹3 lakh crore from a Gross Merchandise Value (GMV) of ₹2 lakh crore recorded at the end of the previous fiscal year, as per Ministry of Commerce & Industry.

“There has been a notable increase in the daily average GMV transaction value during this period, rising from ₹504 crore in FY 22-23 to ₹914 crore as of February 12, 2024,” the government states.

The ministry states that GeM, recognised as a trailblazer in public procurement, was conceived under the visionary guidance of Prime Minister Narendra Modi. The mission behind its inception was to promote 'Minimum Government, Maximum Governance' through digital platforms.

The government revealed that the GeM has directly connected over 20 lakh sellers and service providers with more than 3 lakh Government buyers, facilitating a seamless procurement process nationwide. The platform currently shows more than 12,200 products and services categories, catering to the diverse needs of government buyers across the country.

By digitally integrating all stakeholders in the public procurement process, GeM has not only revolutionised the procurement process but has also eliminated harmful practices like collusion and corruption, fostering greater transparency in public finances. Specifically, the services segment has experienced a noticeable surge with procurement reaching ₹1,30,984 crore in FY 23-24 from ₹66,000 crore in FY 22-23.

The current financial year witnessed concerted efforts to enhance participation from various government bodies, resulting in a significant rise in orders placed by States, reflecting a 56% increase compared to the previous year. States like Uttar Pradesh, Gujarat, Maharashtra, Madhya Pradesh, and Delhi have emerged as the top procurers on the platform.

“While central entities have contributed to 82% of the current GMV, increased engagement from States has propelled the platform's growth. States have cumulatively placed orders worth ₹49,302 crore in FY 23-24, reflecting a 56% increase compared to the corresponding period in the previous fiscal year,” it states.

MSEs

Procurement from GeM portal crosses ₹3 lakh in 11 months