Government e-Marketplace Hits Rs 1.5 Lakh Cr In GMV During FY23

Centre on Thursday revealed that the Government e-Marketplace (GeM) has achieved Rs 1.5 lakh crore of Gross Merchandise Value (GMV) in FY23 alone. 

The data was recorded on 1 February, 2023 and Centre believes that the current run rate would set GeM up to exceed its annual target of Rs 1.75 lakh crore.

Cumulatively, GeM has surpassed the Rs 3 lakh crore GMV since inception, with the overwhelming support of its stakeholders. The total number of transactions on GeM has also crossed 1.3 crore. 

GeM has over 66,000 government buyer organisations and more than 58 lakh sellers and service providers offering a diverse range of goods and services. 

The portal features over 11,000 product categories with more than 29 lakh listed products, as well as over 270 service categories with more than 2.5 lakh service offerings. Based on various studies, the minimum savings on the platform are about 10 per cent, which translates into a savings of over Rs 30,000 crore worth of public money.

Government e-Marketplace (GeM) is an online platform for public procurement in India that was envisaged by the Prime Minister. The initiative was launched on August 9, 2016 by the Ministry of Commerce and Industry with the objective of creating an inclusive, efficient, and transparent platform for the buyers and sellers to carry out procurement activities in a fair and competitive manner. 

GeM has successfully integrated with 1.5 lakh+ India Post offices and 5.2+ lakh Village Level Entrepreneurs [VLEs] via the CSCs for last-mile outreach and service delivery. 

“Curated trainings are being conducted with the State Mission Coordinators and District Managers to help them understand about GeM and its features,” Centre said in a statement.