New Delhi: Government e Marketplace (GeM) has closed the financial year with a record-breaking Gross Merchandise Value (GMV) of ₹ 4 lakh crore, doubling its GMV from the previous fiscal year. This remarkable achievement underscores the portal’s exceptional digital capabilities and functionalities, which have revolutionized public procurement by enhancing efficiency, transparency, and seamlessness.
The procurement of Services through the GeM portal has been a driving force behind this exponential growth, contributing nearly 50% of the total GMV. Notably, there has been a staggering 205% surge in the procurement of Services on GeM compared to the previous fiscal year. By democratizing access to the market, GeM has empowered small domestic entrepreneurs to participate in government tenders, disrupting the dominance of established service providers and fostering innovation in public procurement.
The active engagement of States has also played a pivotal role in driving this phenomenal growth in GMV. States like Gujarat, Uttar Pradesh, and Delhi have exceeded their earmarked public procurement targets for the year. Additionally, central entities including Ministries and Central Public Sector Enterprises (CPSEs) have significantly contributed to achieving this milestone, accounting for nearly 85% of the ₹ 4 lakh crore GMV. Ministries such as the Ministry of Coal, Ministry of Power, and Ministry of Petroleum & Natural Gas, along with their subsidiaries, have emerged as the highest procuring entities at the central level.
GeM’s expansive network, comprising over 1.5 lakh Government buyers and 21 lakh sellers and service providers, has been instrumental in achieving this feat. By integrating over 89,421 Panchayats and 760+ Cooperatives into its procurement ecosystem, GeM has facilitated sustainable procurement practices and optimized public spending at the grassroots level.
PK Singh, CEO of GeM, highlighted the platform’s inclusive initiatives such as ‘Vocal for Local’, ‘One District, One Product’, ‘Startup Runway’, and ‘Womaniya’, which have provided a level-playing field for domestic businesses. Nearly 50% of the orders have been awarded to marginalized seller segments, including artisans, weavers, craftsmen, MSMEs, women-led enterprises, SC/STs, SHGs, FPOs, and startups. GeM’s collaboration with over 5.2 lakh Common Service Centers (CSCs) and 1.5 lakh India Post offices has expanded outreach and facilitated capacity-building at the grassroots level, stimulating job creation and income generation.
In a bid to further enhance its technological infrastructure, GeM recently partnered with leading tech firm Tata Consultancy Services. The objective is to leverage new-age technologies to revamp and redesign the platform, enhancing user experience, transparency, and inclusivity while maintaining its current capabilities.
With over 12,070+ product categories and 320+ service categories, GeM has emerged as a one-stop shop for seamless public procurement, offering sellers and service providers across the nation unparalleled opportunities to showcase their products and services. From its humble beginnings with a GMV of ₹ 422 crore in 2016, GeM has rapidly ascended to become one of the foremost public procurement platforms globally, committed to driving efficiency, transparency, and inclusivity in public procurement.
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