Govt’s e-market place set to hit ₹3.5 trillion in GMV
NEW DELHI : The gross merchandise value (GMV) of state-run government e-marketplace (GeM) may be up by 75% and touch ₹3.5 trillion in the current financial year, as government departments have been busy procuring goods and services through the portal, two persons said. The expected GMV will be up by ₹1.5 trillion from the last fiscal’s ₹2 trillion.
Currently, the state-run procurement portal is offering a diverse range of 11,880 products and 320 services to its over 70,000 government clientele. The GeM has experienced substantial growth in procurement of goods and services, reaching a milestone of ₹2.5 trillion and four million orders in FY2023-24 until the end of December, said one of the people cited above, speaking anonymously.
The procurement of services on GeM has experienced significant growth over the past two-three years, rising from ₹8,500 crore in FY2020-21 to ₹66,000 crore in FY2022-23. Within the first nine months of the current fiscal, the GMV of services had already exceeded ₹1.17 trillion, said this person.
The government’s online procurement platform is only accessible to all public sector undertakings, government departments, cooperatives and civic bodies. Over 887,000 micro and small enterprises (MSEs) are registered on the GeM portal and they have received orders totalling more than ₹3.10 trillion, contributing to over 48.15% of GeM’s cumulative GMV, said Abhishek Dayal, the spokesperson for the commerce ministry, one of the two people mentioned above.
Moreover, the platform has enrolled over 155,000 MSMEs led by women entrepreneurs, fulfilling more than 862,000 orders valued at ₹21,539 crore until December last, Dayal said. Additionally, as part of its initiatives to promote Make in India products,
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