GeM portal achieves GMV of INR 1.5 trn

The Government e-Marketplace (GeM) has crossed Goss Merchandise Value (GMV) amounting to INR 3 trillion since its launch

February 3, 2023

GeM has over 66,000 government buyer organisations and more than 5.8 million sellers and service providers

Since its launch, the platform has witnessed transactions above 13 million in volume

The portal features over 11,000 product categories with more than 2.9 million listed products

The government has been able to save 10% of the total cost involved by purchasing from GeM

The Government e-Marketplace (GeM), an online platform for public procurement in India, has achieved INR 1.5 lakh trillion of Gross Merchandise Value (GMV) in FY23, according to a report from the Ministry of Commerce & Industry.

On top of that, the GeM has crossed GMV amounting to INR 3 trillion since the time of its launch, and the platform has witnessed transactions above 13 million in volume. The report said that GeM has over 66,000 government buyer organisations and more than 5.8 million sellers and service providers. 

The portal features over 11,000 product categories with more than 2.9 million listed products and over 270 service categories with more than 2.5 lakh service offerings. 

The government has been able to save 10% of the total cost involved, amounting to INR 30000 crore, by purchasing from GeM. According to the report, GeM has recently launched a focused campaign to boost procurement through States.

To create an open and transparent procurement platform for government buyers, GeM was launched on August 9, 2016, by the Ministry of Commerce and Industry.

Source: Mint

Recent Articles

India and Greece Forge Strategic Alliances

February 22, 2024

India and Greece agreed to collaborate on the co-production and …

Read More

EPFO Records Significant Surge in Formal Job Creation

February 21, 2024

In December, formal job creation within the Employees’ Provident Fund …

Read More

Europe a priority for India: EAM S Jaishankar

February 21, 2024

S Jaishankar, the Minister of External Affairs, highlighted the paramount …

Read More