Showcasing robust growth and impactful reforms in India’s e-procurement landscape, the Government e Marketplace (GeM) has achieved significant milestones at the end of the first quarter of FY 24-25 as it reported a Gross Merchandise Value (GMV) of Rs1,24,761 Lakh crore, marking an impressive 136 per cent quarter-on-quarter growth compared to last year’s GMV of Rs 52,670 Crore.
Launched in 2016, GeM has transformed the fragmented procurement system into a comprehensive platform widely utilized by government buyers and serviced by a nationwide network of sellers and service providers.
In the services segment alone, GeM recorded a GMV exceeding Rs 80,500 crore in Q1 FY 24-25, representing a remarkable 330% growth over the corresponding period in FY 23-24. Notably, procurement by Central Ministries and CPSEs surpassed the Rs 1 Lakh crore milestone, with Ministries of Coal, Defence, and Petroleum & Gas emerging as top procurers in this quarter. CPSEs accounted for over Rs 91,000 Crore of this total, said Prashant Kumar Singh, Chief Executive Officer (CEO) of the GeM.
GeM’s efforts extend to enhancing ease of doing business through initiatives like the ‘GeM SAHAYAK’ program, aimed at creating a nationwide network of trained accredited trainers to assist sellers and buyers.
