Public Procurement Via GeM Portal To Cross Rs 2 Trillion In FY23: Official

Procurement of goods and services from government portal GeM is expected to cross Rs 2 lakh crore during this fiscal year on account of an increase in buying activities by different ministries and departments, a top official stated on Wednesday. The procurement crossed Rs 1.5 lakh crore on February 1.

"After crossing Rs 1.5 lakh crore, we are aspiring for Rs 2 lakh crore for the full fiscal," said CEO of the Government e-Market (GeM) P K Singh. 

Singh also said that government has huge potential in states and public sector undertakings to increase buying from the platform. 

The GeM was launched on 9 August 2016 for online purchases of goods and services by all the central government ministries and departments. He also added that the portal has over 66,000 government buyer organisations and more than 58 lakh sellers and service providers offering varieties of goods and services. 

The portal serves a wide range of products from office stationery to vehicles. Currently, this stands at the third position after Singapore’s GeBIZ. South Korea's KONEPS is still the largest such platform in the world.