Govt’s GeM portal crosses 30 lakh order volume in current fiscal

financialexpress.com:

GeM order volume: The public procurement platform of the government, Government e-marketplace, has crossed 30 lakh order volume in the current financial year. According to the data available on the marketplace at the time of filing this report, GeM had processed 30.38 lakh orders worth Rs 1.91 lakh crore in the current financial year so far. The share of micro and small enterprise sellers in the order value stood at 48.92 per cent.

The platform processed over 33.16 lakh orders in FY22 with a gross merchandise value (GMV) of Rs 1.06 lakh crore. It bettered its performance in FY23 with around 50.36 lakh orders worth Rs 2 lakh crore, registering 88 per cent growth in GMV.

Recently, NTPC, formerly known as National Thermal Power Corporation, placed a major procurement order worth Rs 13,868 crore, marking the largest value bid awarded in this fiscal year. The procurement of goods and services by the Ministry of Coal from the platform has reached Rs 28,665 crore as of October 15 in the current financial year, up by 60X from Rs 477 in FY21.

The top buyer of MSME goods from GeM was the defence ministry in FY23 with purchases worth Rs 28,732.9 crore in FY23. This year also, the ministry was among the top buyers in the first quarter of FY24 with procured goods and services worth Rs 13,776 crore from the platform, as of July 31. 

The marketplace currently has 1.10 lakh primary and 1.97 lakh secondary buyers on the platform which include government ministries, public sector units, and departments, across 11,838 product categories and 311 services categories.

The average GMV per day also grew from Rs 412 crore per day in FY23 to Rs 690 crore per day in FY24, indicating an increase in procurement, as of the end of September 2023. 

GeM