The Government e-Marketplace (GeM) has witnessed an impressive surge in procurement activities during this fiscal year, crossing a milestone of over US$ 12.11 billion (Rs. 1 lakh crore). This upswing can be attributed to increased purchasing engagement by various ministries and departments within the central government.
The inception of the Government e-Market (GeM) platform on August 9, 2016, marked a significant shift towards online procurement of goods and services for central government entities. In the current fiscal year, GeM has achieved this remarkable milestone within 145 days of operation in 2023-24, in contrast to the 243 days it took in the previous year of 2022-23. The Ministry of Commerce reveals that this achievement has been fueled by the active participation of key stakeholders, with Central Public Sector Enterprises (CPSEs), Central Ministries, and State Governments contributing 54%, 26%, and 20% respectively to the impressive Gross Merchandise Value (GMV) success.
One of GeM’s notable achievements lies in its commitment to accessibility and inclusivity. The platform’s integration with e-Gram Swaraj to facilitate Panchayat-level procurement reflects its dedication to connecting with sellers even in the remotest areas, thereby reducing costs and enhancing efficiency at the grassroots level of governance.
The preceding fiscal year concluded with a noteworthy GMV of US$ 24.22 billion (Rs. 2 lakh crore), establishing a strong foundation for the accomplishments witnessed in the ongoing year. Moving forward, GeM’s strategic emphasis in FY24 will be on expanding its reach, encompassing government buyers across all levels into its advanced e-procurement infrastructure. During this period, the platform’s diverse array of service offerings has significantly contributed to its widespread adoption and success.
