Procurement through govt e-marketplace crosses Rs 4 lakh crore this fiscal
GeM partnered with Tata Consultancy Services to enhance its technological infrastructure
Prashanth Kumar Singh, CEO, GeM
New Delhi: The Government e-Marketplace (GeM) has concluded this financial year with Rs4 lakh crore in Gross Merchandise Value (GMV), doubling its GMV from the previous fiscal year. This reflects the portal’s digital capabilities that have improved efficiency and transparency in public procurement.
The procurement of services through GeM has been a significant factor in this GMV growth. Around 50% of the GMV is attributed to services, showing a 205% surge from the previous fiscal year. GeM has enabled small domestic entrepreneurs to participate in government tenders, breaking down the dominance of established service providers.
States' increased involvement has also contributed to this growth. States like Gujarat, Uttar Pradesh, and Delhi have exceeded their public procurement targets. Central entities, including Ministries and CPSEs, have contributed around 85% to this Rs4 lakh crore milestone. Ministries of Coal, Power, and Petroleum & Natural Gas, along with their subsidiaries, were the top procuring entities at the central level.
GeM's network of 1.5 lakh+ government buyers and 21 lakh sellers has made this achievement possible. By onboarding buyers and sellers at the grassroots level, GeM has facilitated sustainable procurement.
Initiatives like 'Vocal for Local', 'One District, One Product', 'Startup Runway', and 'Womaniya' have provided opportunities for domestic businesses. Nearly 50% of the GMV orders were awarded to marginalized segments such as artisans, weavers, MSEs, women-led, SC/STs, SHGs, FPOs, and startups. GeM's collaboration with 5.2 lakh+ CSCs and 1.5 lakh+ India Post offices has expanded outreach and capacity-building at the grassroots level, contributing to job creation and increased incomes.
Earlier this fiscal year, GeM partnered with Tata Consultancy Services to enhance its technological infrastructure. The objective is to revamp the platform using new technologies while maintaining its current functionality.
GeM now offers more than 12,070 product categories and 320+ service categories, becoming a one-stop shop for public procurement. Its journey from Rs422 crore in GMV in 2016 to Rs4 lakh crore showcases its rapid growth as a leading public procurement platform. GeM continues to focus on efficiency, transparency, and inclusivity in disrupting the public procurement domain.
