Public Procurement Through Government e-Marketplace GeM Portal Exceeds Rs 3 Lakh Crore This Fiscal Year

The Government e-Marketplace (GeM) portal has achieved a procurement milestone, surpassing Rs 3 lakh crore in the current financial year, according to an official. This achievement is attributed to increased purchasing activities by various ministries and departments. In the fiscal year 2023-24, the portal facilitated procurement worth Rs 4 lakh crore by central and state government departments and public sector enterprises.

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Launched on August 9, 2016, the GeM portal serves as a platform for online purchases of goods and services by all central government ministries and departments. In October, GeM signed a memorandum of understanding (MoU) with Sikkim to enable the state's procurement on the platform. This agreement extends GeM's coverage to all states, as noted by an official.

GeM's Expanding Reach

In addition to large government agencies, GeM has also onboarded panchayats and cooperatives. The procurement by central organisations on the portal in October amounted to approximately Rs 30,264 crore. Since its inception, over 9.7 lakh micro, small, and medium enterprises (MSMEs) have registered on GeM. These enterprises have received orders exceeding Rs 4.19 lakh crore, accounting for around 40% of the total procurement value.

Globally, South Korea's KONEPS is recognised as the largest platform of its kind. GeM ranks second in this category, followed by Singapore's GeBIZ. The growth of GeM highlights its significant role in streamlining government procurement processes in India.

The GeM portal continues to expand its reach and impact across various sectors. By facilitating efficient procurement processes, it supports both government entities and MSMEs in achieving their objectives. The platform's success underscores its importance in enhancing transparency and efficiency in public procurement.