Purchasing via the Government’s Online Marketplace GeM has already crossed Rs 4 lakh crore this fiscal year

Due to increased purchasing activity by several ministries and departments, the government’s site GeM has already processed over Rs 4 lakh crore in purchases of goods and services this fiscal year, a senior government official said on Friday. On August 9, 2016, the Government e-Market (GeM) platform became live, enabling all central government ministries and departments to make online purchases of products and services.

“The purchase has exceeded Rs 4 lakh crore as of March 28. GeM CEO P K Singh informed reporters that this was a historic moment. The procurement value exceeded Rs 2 lakh crore in the most recent fiscal year, with a value of Rs 1.06 lakh crore in 2021–2022. He stated that so far this fiscal year, the amount of services procured via the platform has increased from Rs 66,000 crore in 2022–2023 to Rs 2.05 lakh crore.

Similarly, as to March 28 of current fiscal year, commodities worth Rs 1.95 lakh crore were purchased from the site. With over 62 lakh vendors and service providers providing a vast array of goods and services, GeM has over 63,000 government buyer organizations.

At the moment, this site may be used for transactions by state governments, federal agencies, public sector organizations, and central armed police forces. The web offers a huge selection of goods, ranging from cars to office supplies. Among the main product categories are computers, office furnishings, and automobiles.

The site offers a variety of services, such as webcasting, trash management, logistics, transportation, and analysis. The biggest platform of its kind worldwide is KONEPS, located in South Korea. GeM is ranked third, after GeBIZ from Singapore.

Significant procurement orders have been made in the current fiscal year by states/union territories, including Uttar Pradesh, Gujarat, Maharashtra, Delhi, Madhya Pradesh, Jammu & Kashmir, Odisha, Bihar, Assam, and Uttarakhand.