November 30, 2022
In FY22, public procurement through GeM stood at INR 1.07 trillion
Purchases through the portal had breached the INR 1 trillion mark in as many as four-and-a-half years
Purchase target in GeM for this fiscal has been set at INR 1.5 trillion
The sellers in GeM are from both the public and private sectors, ranging from small businesses to large companies
The Government e-Marketplace (GeM) portal has witnessed above INR 1 trillion in the purchase of goods and services in 2022 by central government ministries, departments, states and public-sector enterprises, according to media reports.
In FY22, public procurement through the marketplace stood at INR 1.07 trillion. The reports said that purchases through the portal had breached the INR 1 trillion mark in as many as four-and-a-half years.
Experts said that the purchase target in GeM for this fiscal has been set at INR 1.5 trillion, but at the pace, it is growing, the number could reach INR 1.80 trillion. The leading states that have scaled up purchases are Gujarat, Uttar Pradesh, Maharashtra and Madhya Pradesh.
To improve transparency in purchases of various goods and services by all the central government ministries, departments and public-sector firms and state governments, The GeM portal was launched in August 2016. The sellers are from both the public and private sectors, ranging from small businesses to large companies.
This is a positive indication, as an increase in domestic purchases through a homegrown platform signals that the country is nearing its aim to become a circular economy.
Source: Financial Express