Ministry of coal tops government e-Marketplace (GeM) procurement with over Rs. 23,798 crore in FY 2023-24

BNE News Desk

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Exceeds Annual Target in Second Quarter, Aims for 1 Billion Tonnes of Coal Production

New Delhi: The Ministry of Coal has emerged as the leading procurer on the Government e-Marketplace (GeM), surpassing its ambitious target for the fiscal year 2023-24. In a remarkable achievement, procurement through GeM has reached an impressive Rs. 23,798 Crore as of September 14, 2023, exceeding its annual target of Rs. 21,325 Crore within the second quarter itself.

The Ministry of Coal's commitment to transparency, timely decision-making, and faster planning aligns with its ambitious goal of achieving a coal production rate of above 1 billion tonnes this year.

In the previous fiscal year 2022-23, the Ministry of Coal had a target of Rs. 4,000 Crore for procurement of Goods and Services through GeM. This target was not only met but surpassed with an impressive achievement of Rs. 4,278 Crore, representing a remarkable 107 percent achievement rate. This achievement was made possible through close collaboration between the GeM team and the Coal India Ltd. (CIL) procurement team, resolving technical challenges.

Coal India Ltd. and its subsidiaries have played a pivotal role in GeM procurement, contributing Rs. 23,363 Crore as of September 14, 2023, which exceeds its actual target for FY 2023-24 by 17 percent. With this accomplishment, Coal India Ltd. has become the leading Central Public Sector Enterprise (CPSE) in the country for GeM procurement.

GeM, launched in August 2016, aimed to modernize the previous tender process, enhance integrity, and bring transparency to government procurement through digitalization. Over the past seven years, the Ministry of Coal has remained dedicated to this digital transformation effort.

The substantial achievements in procurement through GeM by the Ministry of Coal underscore the platform's effectiveness and efficiency in facilitating transparent and efficient procurement processes. The extensive adoption of GeM by various CPSEs of the Ministry of Coal further emphasizes its success in simplifying and improving the overall procurement environment.

This achievement by the Ministry of Coal reflects a significant milestone in the government's efforts to modernize procurement processes and promote transparency in public sector procurement.

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BNE News Desk