Government EMarketplace Procurement Crosses Rs 3 Lakh Cr In FY25

Procurement through the Government eMarketplace (GeM) portal has surpassed Rs 3 lakh crore in the ongoing financial year, driven by increased buying activity across various ministries and departments, according to reports.

In the previous fiscal year (2023-24), the GeM portal facilitated procurements worth Rs 4 lakh crore, including purchases by central and state government departments as well as public sector enterprises.

Launched on August 9, 2016, the GeM portal provides an online platform for central government ministries and departments to procure goods and services. Over the years, it has expanded its reach to include state governments, panchayats, cooperatives, and other agencies.

In October, the GeM signed a memorandum of understanding (MoU) with the state of Sikkim, marking the inclusion of all Indian states under the platform. The portal recorded procurement worth approximately Rs 30,264 crore by central organisations in October alone.

Since its inception, the GeM portal has on boarded over 9.7 lakh micro, small, and medium enterprises (MSMEs), which have collectively received orders worth Rs 4.19 lakh crore, accounting for nearly 40 per cent of the total procurement value.

Globally, South Korea’s KONEPS remains the largest government procurement platform, with GeM holding the second position, followed by Singapore’s GeBIZ.

Reports reveal about the portal's role in enhancing transparency, efficiency, and inclusivity in government procurement processes, noting its significant contribution to empowering MSMEs and boosting the country’s economic activities.

The GeM portal continues to play a pivotal role in streamlining government procurement and is set to further enhance its scope as India accelerates its digital governance initiatives.