In the financial year 2022-2023, procurement of goods and services from government portal Government e Marketplace (GeM) has crossed the Rs 2 lakh crore mark, said Union Commerce and Industry Minister Piyush Goyal at a press conference in Mumbai on the landmark achievement of GeM.
After the GeM portal was launched in 2017, business worth about Rs 400 crore was done, and in the second year, GeM did business of about Rs 5800 crore. The business through GeM has grown from around Rs 35000 crore two years ago and tripled last year to Rs 1 lakh 6 thousand crores, the Minister informed.
Cumulatively, GeM has surpassed the Rs 3.9 lakh crore GMV since inception, with the overwhelming. The total number of transactions on GeM has also crossed 1.47 crore. GeM is catering to the diverse procurement needs of over 67,000 government buyer organisations. The portal features over 11,700 product categories with more than 32 lakh listed products, as well as over 280 service categories with more than 2.8 lakh service offerings. Based on various studies, the minimum savings on the platform are about 10%, which translates into a savings of ~ Rs 40,000 crore worth of public money.
Be First to Comment