November 4, 2022
The increase in orders was backed by a growth in demand for the government procuring goods from Micro, Small, and Medium Enterprises (MSMEs)
The portal had processed 12,001,179 orders reaching INR 322,013 crore from 63,564 buyers, since the time of its launch in 2016
The government has recently set a target of procuring 100% of goods for ministries and departments to be made through GeM
Currently, the platform has over five million users, of which, micro and small sellers comprised 818,000
Order volumes for the business-to-government portal Government e-Marketplace (GeM) have reached 12 million, backed by a growth in demand for the government procuring goods from MSMEs, according to media reports. In June FY21, the portal witnessed 6.7 million orders.
According to government data, the portal had processed 12,001,179 orders reaching INR 322,013 crore from 63,564 buyers, since the time of its launch in 2016.
Prime Minister Narendra Modi stated that the government has recently set a target of procuring 100% of goods for ministries and departments to be made through GeM, by the end of FY23. Experts said that out of the total government purchases of around INR 20 lakh crore, the portal achieved 5% of the share. Additionally, GeM has helped the government save about 10% in the costs for the cumulative procurement of goods priced at INR 1 trillion, over five years.
Currently, the platform has over five million users, of which, micro and small sellers comprised 818,000. The order value for Medium and Small Enterprises stood at a share of 55.31%. The portal’s turnover in FY23 stood at INR 1 trillion and is expected to double by the end of next year.
Source: Financial Express