GeM doubles business in 12 months to cross Rs 4 lakh crore in GMV at the end of this Fiscal Year
205% surge in services procured from GeM
21 lakh sellers and service providers onboarded on GeM
Government e
Marketplace has closed this financial year with ₹ 4 lakh crore in Gross
Merchandise value (GMV) - doubling its GMV clocked at the end of previous
Fiscal Year. This testifies to the portal’s unique digital capabilities and
functionalities that have facilitated greater efficiency, transparency, and
seamlessness in public procurement.
The procurement of Services through the GeM portal has
proved to be a pivotal force behind this staggering GMV. Nearly 50% of this GMV
has been attributed to the procurement of Services, displaying a remarkable
surge of 205% in terms of Services procured on GeM last FY. By creating access
to market, GeM has been exceptionally successful in breaking down the cartel of
established and renowned service providers, paving way for small domestic
entrepreneurs to participate in government tenders from anywhere at any time.
The vast repository of Services on GeM has enabled States to procure innovative
solutions that cater to all their dynamic needs.
Increased
engagement from States has also mobilized this phenomenal growth in GMV. In
this FY, highest procuring State like Gujarat, Uttar Pradesh, and Delhi, have
helped States well surpass the earmarked public procurement target of this
year. The contribution made by central entities including Ministries and CPSEs
has also greatly spurred the GMV. These Government organization have
contributed to nearly 85 % of this ₹ 4 lakh crore milestone. Notably, Ministry
of Coal, Ministry of Power and Ministry of Petroleum & Natural Gas and
their subsidiaries have emerged as the highest procuring entities at the
central level.
GeM’s vast
network of 1.5 lakh+ Government buyers and 21 lakh sellers and service
providers have been made this incredible feat possible. Through comprehensive
onboarding of last-mile buyers and sellers GeM has fostered engagement at the
grassroots level. By integrating 89421 Panchayats and 760+ Cooperatives withing
its procurement Ecosystem, GeM has facilitated sustainable procurement while
ensuring optimization in public spending at the very last level of
administration.
“Through its
inclusive initiatives like ‘Vocal for Local’, ‘One District, One Product’,
‘Startup Runway’ and ‘Womaniya’ GeM has provided a level playing field for
domestic businesses to grow and thrive. Of the ₹ 4 lakh crore GMV, orders
nearly 50 % have been awarded to marginalized seller segment such as Artisans,
weavers, craftsmen, MSEs, especially women-led and SC/STs, SHGs, FPOs and
Startups. GeM’s collaboration with 5.2 lakh+ CSCs and 1.5 lakh+ India Post offices
has served a phenomenal force in maximising outreach and capacity-building at
micro levels. Through supportive handholding at every step to help diverse
sellers and service providers grow their business on GeM, the platform has
given impetus to hyper local economies across regions in India, resulting in
job creation and greater incomes”, said PK Singh, CEO, GeM.
Earlier this
financial year, GeM tide up with a leading tech firm, Tata Consultancy
Services, with a vision to create a more versatile and secure technological
Infrastructure by adapting new-age technologies to further enhance user
experience, improve transparency, and induce greater inclusivity. The objective
is to revamp, re-design and build a new modern solution leveraging new
technologies, while maintaining the current platform. Its deep configurability
will ease the onboarding of diverse buyer organizations and Sellers/ Service
Providers with dynamic needs.
Offering more than
12070+ product categories and 320+ service categories, GeM has become a
one-stop shop for seamless public procurement, thereby opening up opportunities
for sellers and service providers across the nation to showcase their Products
and Services and to participate in government tenders in most transparent
manner, promising them ease of doing business.
The portal
started its trailblazing journey to ₹ 4 lakh crore-landmark with ₹ 422 crore in
GMV in 2016. Its achievements in an astonishing short period of have propelled
it to ascend one of the foremost public procurement platforms globally.
Committed to enhancing efficiency, transparency and inclusivity, GeM is
disrupting the public procurement domain.