New Delhi: The Government e-Marketplace (GeM) closed the fiscal year with a Gross Merchandise Value (GMV) of ₹4 lakh crore. This marks a doubling from the previous year.
Key factors driving this growth include a 205% surge in service procurement, with services contributing 50% to the GMV. States like Gujarat, Uttar Pradesh, and Delhi, along with central entities, played a crucial role, accounting for 85% of the milestone.
GeM's network of 1.5 lakh government buyers and 21 lakh sellers facilitated this achievement. Integration of grassroots stakeholders like Panchayats and Cooperatives ensured sustainable procurement.
Initiatives such as 'Vocal for Local' and 'Startup Runway' provided opportunities for marginalized sellers, with nearly 50% of orders going to artisans, weavers, MSEs, women-led enterprises, and startups.
GeM partnered with Tata Consultancy Services to enhance its technological infrastructure, promising a more secure platform. With 12,070+ product categories and 320+ service categories, GeM has become a key player in public procurement, offering opportunities nationwide. From ₹422 crore in GMV in 2016, GeM's journey to ₹4 lakh crore underscores its commitment to revolutionizing public procurement with efficiency, transparency, and inclusivity.
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