Procurement From GeM Portal Crosses Rs 2 Lakh Crore So Far This Fiscal

The procurement of goods and services from the government portal GeM has crossed Rs 2 lakh crore so far this fiscal due to higher buying activities by different ministries and departments.

The government e-Market (GeM) portal was launched on Aug. 9, 2016, for online purchases of goods and services by all the central government ministries and departments.

“Gem of a landmark! Government e-Marketplace achieves an impressive Rs 2 lakh crore gross merchandise value in just eight months of 2023-24,” Commerce and Industry Minister Piyush Goyal said on social media platform X.

In 2021-22, the procurement value stood at Rs 1.06 lakh crore. It crossed Rs 2 lakh crore last year, and going by the trend this year, it may cross Rs 3 lakh crore.

GeM has over 63,000 government buyer organisations and over 62 lakh sellers and service providers, offering a wide range of products and services.

Currently, government departments, ministries, public sector units, state governments, and central armed police forces are allowed to carry out transactions through this portal.

The portal provides a wide range of products from office stationery to vehicles.

Automobiles, computers and office furniture are some of the major product categories.

Services, including transportation, logistics, waste management, webcasting and analytical, are listed on the portal.

South Korea’s KONEPS is the largest such platform in the world.

Currently, GeM stands at the third position after Singapore’s GeBIZ.

. Read more on Business News by BloombergQuint.

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