Govt's e-marketplace GMV touches ₹4 trillion in FY24
₹4 trillion in the current fiscal, as government departments have been actively procuring goods and services through the portal, additional secretary in the commerce ministry Anant Swarup told Mint. The GMV is up by ₹2 trillionfrom the last fiscal year. The state-run procurement portal offers a range of 12,070 products and more than 320 services to over 1.5 lakh government clientele.
The GeM saw substantial growth in procurement, surpassing a GMV of over ₹2.5 trillion with 4 million orders during April-December. The procurement of services on GeM had risen significantly from ₹8,500 crore in FY2020-21 to ₹66,000 crore in FY2022-23. In the last month of the current fiscal, the GMV of services has crossed ₹2.05 trillion, GeM CEO PK Singh said. Since its inception, GeM has facilitated more than 2.1 crore orders worth more than ₹7.9 trillion, Singh said, claiming it has saved ₹80,000 crore of the government exchequer.
The government's online procurement platform is only accessible to public sector undertakings, government departments, cooperatives, and civic bodies. The platform has enrolled over 155,000 MSEs led by women entrepreneurs. It has provided support to over 22,290 startups in establishing their presence in the Indian marketplace as part of its initiatives to promote Make in India products, he said.
Prominent central public sector enterprises like Coal India Ltd, NTPC Ltd, Oil and Natural Gas Corp Ltd, and Bharat Petroleum Corp Ltd have actively utilized GeM for their service procurement requirements. Besides, several states and union territories, including Gujarat, Uttar Pradesh, Delhi, Uttarakhand, and Punjab, have adopted GeM as their preferred platform for services procurement. GeM has facilitated unique service
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