Procurement of goods and services through the Government e-Market (GeM) portal has surpassed Rs 4 lakh crore so far in the current fiscal year, driven by increased purchasing activities across various ministries and departments, as per a senior government official’s statement on Friday.
Launched on August 9, 2016, the GeM portal facilitates online purchases of goods and services by all central government ministries and departments. GeM CEO P K Singh informed reporters that as of March 28, the procurement has crossed the significant milestone of Rs 4 lakh crore, marking a historic achievement.
Singh highlighted the involvement of the defence sector in procuring various goods and services through the platform, citing examples such as the assembly of BrahMos missiles being conducted via GeM under service contracts.
The procurement value has shown remarkable growth, with services witnessing a substantial increase from Rs 66,000 crore in the fiscal year 2022-23 to Rs 2.05 lakh crore in the current fiscal year. Similarly, goods worth Rs 1.95 lakh crore have been procured from the platform by the end of March 28.
Regarding the possibility of opening up the portal to consumers at large, Singh stated that it presents a different ecosystem altogether. While the idea is under consideration, a small pilot may be conducted in the future if feasible and approved by the government.
Singh also mentioned the growing interest from countries in Africa and South East Asia in adopting similar procurement platforms like GeM. GeM aims to evolve into the unified procurement portal of the country, potentially expanding to include works contracts, which could further enhance its impact.
The portal’s engagement with states has been significant, with states such as Uttar Pradesh, Gujarat, Maharashtra, and others placing substantial procurement orders. Central entities, including ministries and CPSEs, have contributed significantly to achieving the Rs 4 lakh crore milestone.
With over 1.5 lakh government buyers and more than 62 lakh sellers and service providers, GeM offers a diverse range of products and services, making it a vital platform for government transactions.
