Since its establishment in 2016, the GeM platform has resulted in savings of over US$ 5.43 billion (Rs. 45,000 crore) in government procurement costs, as per the commerce ministry. The ministry’s statement highlights the platform’s commitment to cost efficiency, having facilitated savings exceeding US$ 5.43 billion (Rs. 45,000 crore) since 2016.
The Government e-Marketplace (GeM) serves as India’s digital marketplace for public procurement, offering transparent and efficient sourcing for government entities, organizations, and PSUs.
Furthermore, the portal’s performance has surpassed prominent public procurement platforms like South Korea’s KONEPS and Singapore’s GeBIZ. In the fiscal year 2022-23, central purchasers, including CPSEs and affiliated entities, have placed more than 70 bids amounting to over US$ 12.07 million (Rs. 100 crore) on the platform.
With a registered user base of approximately 6.5 million merchants and 70,000 government customers as of July 2023, the platform has achieved a Gross Merchandise Value (GMV) of over US$ 54.33 billion (Rs. 4.5 lakh crore), underscoring its enduring impact.
