Government e-Marketplace (GeM) has closed this financial year with ₹ 4 lakh crore in Gross Merchandise value (GMV) – doubling its GMV clocked at the end of the previous Fiscal Year. This achievement highlights the distinctive digital capabilities and functionalities of the portal, which have enabled increased efficiency, transparency, and smoothness in public procurement processes.
The procurement of services through the GeM portal has emerged as a driving force behind this remarkable GMV surge. Approximately 50% of this GMV is attributed to service procurement, showcasing a remarkable 205% increase compared to the previous fiscal year. GeM’s role in providing access to markets has notably disrupted the dominance of established service providers, empowering small domestic entrepreneurs to participate in government tenders effortlessly. The platform’s extensive array of services has enabled states to procure innovative solutions tailored to their evolving needs.
Increased participation from states has significantly contributed to this exceptional GMV growth. States like Gujarat, Uttar Pradesh, and Delhi have surpassed their designated public procurement targets, with central entities such as ministries and CPSEs contributing to nearly 85% of the ₹4 lakh crore milestone. Ministries of Coal, Power, Petroleum & Natural Gas and their subsidiaries have emerged as the top 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 Panchayats and cooperatives into its procurement ecosystem, GeM has facilitated sustainable procurement practices while optimizing public spending at the grassroots level.
Shri PK Singh, CEO of GeM, emphasised the platform’s inclusive initiatives, such as ‘Vocal for Local’, ‘One District, One Product’, and ‘Womaniya’, which have leveled the playing field for domestic businesses. Nearly 50% of the GMV has been awarded to marginalized seller segments, including artisans, weavers, women-led enterprises, and startups. GeM’s collaboration with Common Service Centers (CSCs) and India Post offices has further expanded its outreach, fostering job creation and economic growth.
Earlier this fiscal year, GeM partnered with Tata Consultancy Services to enhance its technological infrastructure to improve user experience, transparency, and inclusivity. The platform, offering over 12,070 product categories and 320 service categories, has become a one-stop solution for seamless public procurement, providing opportunities for sellers and service providers nationwide to participate in government tenders transparently.
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GeM embarked on its journey to the ₹4 lakh crore landmark with a GMV of ₹422 crore in 2016, rapidly ascending to become one of the leading public procurement platforms globally. Committed to enhancing efficiency, transparency, and inclusivity, GeM continues to disrupt the public procurement domain.