New Delhi
The Commerce and Industry Ministry announced that the Government e-Marketplace (GeM) witnessed a significant rise in Gross Merchandise Value (GMV), reaching Rs. 4 lakh crore for the fiscal year 2023-24, double the previous year's figure. The ministry attributed this achievement to GeM's digital capabilities, enhancing efficiency and transparency in public procurement.
Services procurement notably surged by 205%, with nearly half of the GMV attributed to this segment. GeM broke down established service provider cartels, enabling small domestic entrepreneurs to participate in government tenders. Central entities, including ministries and public sector enterprises, contributed 85% to the total GMV. Highest procuring entities included the Ministries of Coal, Power, and Petroleum & Natural Gas.
States like Gujarat, Uttar Pradesh, and Delhi also contributed significantly. GeM's network of government buyers and sellers, including Panchayats and Cooperatives, played a crucial role. Inclusive initiatives like 'Vocal for Local' and collaborations with CSCs and India Post offices were highlighted. GeM CEO PK Singh emphasized its role as a one-stop shop for public procurement, offering numerous product and service categories. GeM's partnership with Tata Consultancy Services aimed to enhance technological infrastructure for better user experience and transparency.