Government e-Marketplace (GeM) has reached a significant milestone by surpassing ₹2 Lakh Crore in Gross Merchandise Value (GMV) within less than eight months of the current fiscal year, surpassing the total GMV inscribed at the end of last fiscal year (2022-23).
- The average GMV per day has also witnessed significant growth and reached more than ₹850 crore per day in the current Financial Year.
- GeM’s expansion into the services sector has played a pivotal role in driving its accelerated adoption.
About Government e-Marketplace (GeM)
- Government e-Marketplace (GeM) is an online public procurement portal developed facilitate the procurement of goods and services by various government departments, agencies, and public sector undertakings.
- It was laucnhed as a 100% Government owned company registered under the Companies Act, 2013 for providing online platform for procurement of common use goods and services by government organizations.
- 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.
- The purchases through GeM by Government users have been authorised and made mandatory by Ministry of Finance by adding a new Rule No. 149 in the General Financial Rules, 2017.
- Procurement by Cooperatives as buyers on GeM has been approved.
- At present, the platform is open for procurement by all government buyers: central and state ministries, departments, public sector enterprises, autonomous institutions, local bodies, etc.
- As per existing mandate, GeM is not available for use by private sector buyers. Suppliers (sellers) can be from across all segments: government or private.
