🔊 Take a moment and listen

The Government e-Marketplace (GeM) marked its 8th Foundation Day on August 9, celebrating a remarkable journey of innovation and growth. As of August 8, 2024, procurement on the platform for FY 2024-25 has soared to ₹1,92,433 Crore, reflecting a 136% increase compared to the same period last year, setting the stage for new records.

GeM’s service procurement has also witnessed unprecedented growth, with a Gross Value Merchandise (GMV) of ₹3.91 lakh crore since its inception. In FY 2024-25 alone, service procurement reached ₹80,493 crore. Over the past three fiscal years, the platform has maintained a 100% year-on-year growth rate, completing 62.86 lakh orders worth approximately ₹4.03 lakh crore in FY 2023-24. Today, more than 1.5 lakh government buyers procure goods and services from nearly 23 lakh sellers and service providers across India, spanning 11,523 product categories and 327 service categories, all without intermediaries.

P K Singh, CEO of GeM, presided over the ceremony, highlighting the launch of the GeM SAHAYAK program, which aims to create a nationwide network of 6,000-7,000 trained and certified trainers to assist sellers and buyers on the platform.

GeM has been a catalyst for social inclusion, empowering women, tribal and SC/ST MSMEs, startups, artisans, weavers, and various grassroots organisations through its #VocalForLocal initiatives. Currently, 9,56,465 Udyam-verified MSEs are registered on the portal, fulfilling orders worth ₹3,87,407 crore, accounting for 39.24% of the cumulative GMV. Additionally, 1,63,996 women-led MSEs and approximately 50,000 SC/ST MSEs have completed orders worth ₹37,430 crore and ₹7,828 crore, respectively. Over 25,816 startups have secured orders exceeding ₹27,598 crore through GeM.

In a first for public procurement, GeM has implemented a generative AI-based chatbot to enhance user experience. AI is also being used to improve product comparison, price discovery, market intelligence, and detect potential collusion between buyers and sellers in real-time.

Also Read | Government e-Marketplace achieves ₹4 Lakh Crore GMV, Doub

Since its launch on August 9, 2016, GeM has facilitated the procurement of common-use goods and services by various Central and State Ministries, Departments, Public Sector Enterprises, Autonomous Bodies, Panchayats, and Cooperative Societies. The platform is a testament to Prime Minister Narendra Modi’s visionary approach in leveraging digital infrastructure to create a cashless, contactless, and paperless national procurement portal.

Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter, Instagram.