The procurement of goods and services from the government portal GeM has crossed ₹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 August 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 ₹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 ₹1.06 lakh crore. It crossed ₹2 lakh crore last year, and going by the trend this year, it may cross ₹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 third position after Singapore's GeBIZ.
The commerce ministry, in a statement, said that central public sector enterprises (CPSEs) account for 83% of the total buying.
States/UTs like Uttar Pradesh, Gujarat, Maharashtra, Delhi, Madhya Pradesh, Jammu & Kashmir, Odisha, Bihar, Assam, and Uttarakhand have placed significant amounts of procurement orders in the current financial year.
"GeM's expansion into the services sector has played a pivotal role in driving its accelerated adoption," it said, adding services sector contribution in the total procurement has increased from 23% in 2021-22 to about 46% in the current fiscal.
The portal displays a diverse catalogue of nearly 312 service categories and more than 11,800 product categories.
Cumulatively, GeM has surpassed the ₹5.93 lakh crore procurement since its inception.
Further, nearly 49% of the total order value transacted through the platform has been awarded to micro and small enterprises (MSEs).
"In just seven months, more than 45,000 MSEs have registered as sellers/service providers registered on GeM," it said, adding that the portal has led to the government's saving of over ₹45,000 crore since 2016.
