Government e-Marketplace (GeM)
Context:
Government e-Marketplace (GeM) has achieved an impressive milestone, crossing INR 1 lakh crore in Gross Merchandise Value (GMV) within a remarkable span of 145 days in the current financial year, FY 2023-24.
Relevance:
GS – 02, GS – 03 (Growth & Development, Government Policies & Interventions)
Main highlights:
- This accomplishment is a result of rapid growth, heightened efficiency, and unwavering trust in the platform.
- It reflects GeM’s strong dedication to transforming government procurement processes.
- This achievement stands out significantly compared to the previous fiscal year, when it took 243 days to reach this GMV milestone.
- The daily average GMV has also witnessed substantial growth, escalating from INR 412 crore per day in FY 22-23 to INR 690 crore per day in FY 23-24.
- This milestone firmly cements GeM’s status as one of the world’s largest platforms for public procurement. It is not only measured by transaction value but also by the extensive network of buyers and sellers within its unified digital ecosystem.
- Since its inception, GeM has amassed a GMV of over INR 4.91 Lakh Crore and has facilitated more than 1.67 crore orders.
- Central Public Sector Enterprises (CPSEs), Central Ministries, and State Governments have significantly contributed to this GMV achievement, accounting for 54%, 26%, and 20% respectively.
- The platform’s collaboration with e-Gram Swaraj to streamline procurement at the Panchayat level exemplifies its commitment to reaching sellers at the grassroots level and optimizing costs in local administration.
What is Government e-Marketplace (GeM)?
- GeM is an online platform introduced by the Ministry of Commerce and Industry, Government of India in 2016.
- Its primary purpose is to streamline the procurement of goods and services across diverse government departments and organizations.
- Participation is open to all government bodies, public sector undertakings, autonomous entities, and similar organizations.
