The Government e-Market (GeM) portal has achieved a remarkable milestone, surpassing Rs 9.82 lakh crore in public procurement as of July 30, 2024. Minister Jitin Prasada highlighted GeM's growth, from Rs 422 crore in 2016-17 to over Rs 4 lakh crore in the last fiscal year. The portal's cumulative value now exceeds Rs 9.82 lakh crore. GeM empowers businesses, with 1.63 lakh women-led MSEs and 25,000 startups registered, connecting 63,000 government buyers with 62 lakh sellers. GeM offers a wide array of products and services, playing a pivotal role in digital procurement and global impact.
The Government e-Market (GeM) portal has achieved a significant milestone, surpassing Rs 9.82 lakh crore in public procurement of goods and services as of July 30, 2024, as per the recent update shared in Parliament. Launched on August 9, 2016, GeM has emerged as a pivotal platform for online purchases by all central government ministries and departments.
Minister of State for Commerce and Industry, Jitin Prasada, highlighted the remarkable growth of GeM, noting that it commenced its journey in 2016-17 with a procurement value of Rs 422 crore, which subsequently soared to over Rs 4 lakh crore in the last fiscal year.
Expressing the portal's remarkable impact, Prasada mentioned, "The cumulative gross merchandise value for goods and services on GeM has now exceeded Rs 9.82 lakh crore, reflecting its growing significance."
Since its inception, GeM has played a crucial role in empowering businesses, with more than 1.63 lakh women-led MSEs and 25,000 startups successfully registering on the platform. Boasting a vast network, GeM connects over 63,000 government buyer organizations with a whopping 62 lakh sellers and service providers, offering an extensive array of products and services.
GeM serves as a one-stop destination for various procurement needs, enabling government departments, ministries, public sector units, state governments, and central armed police forces to seamlessly conduct transactions. The portal offers a diverse range of products, ranging from office stationery to vehicles, with major categories encompassing automobiles, computers, and office furniture.
Moreover, GeM extends its support beyond goods, listing essential services such as transportation, logistics, waste management, webcasting, and analytics. Notably, GeM's impact resonates globally, with South Korea's KONEPS holding the title of the largest platform of its kind, positioning GeM at an impressive second place.
The success story of GeM exemplifies a transformative approach towards digital procurement, fostering efficiency, inclusivity, and growth in the public procurement landscape.
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