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livemint.com / 1 month ago
livemint.com / 1 month ago
GeM opens door for overseas sellers to bid for government orders
trade negotiations because it opens access to large public-sector markets.The gross merchandise value (GMV) on the GeM portal fell 7.4% to ₹5.03 trillion in FY26, from ₹5.43 trillion in FY25.“There is a degrowth of 7.4 % in FY26 with respect to FY 24-25 due to the absence of unique/ sporadic procurement. However, the cumulative GMV of ₹18.4 lakh crore (since its inception in 2016) reflects the sustained confidence of buyers, sellers and institutions in a transparent and technology-driven ecosystem improving public procurement.
GeM continues to enable efficient and inclusive procurement at scale,” Kumar said.Gross merchandise value refers to the total value of all goods and services procured through the platform over a given period. It serves as a key indicator of the overall scale and volume of public procurement activity facilitated by this online marketplace for government buyers in India.Kumar added that the decline in GMV in FY26 was due to a lower contribution from the coal ministry, whose share in total sales stood at ₹1.02 trillion, falling from 34% to 20%.
Coal India Ltd procured goods and services worth ₹82,285 crore through the platform during the year.“No, the present crisis has no connection with the gross merchandise value on the portal. These are routine procurement activities, and purchases are continuing as usual,” he added.On concerns related to the irregularities on the platform, Kumar said that GeM is closely monitoring prices and product listings.
“We check whether prices are abnormally high or low and whether product specifications and catalog details are appropriate. We have denied listing of about 10.5 lakh offerings.
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