GeM Achieves ₹4 Lakh Crore GMV: A Milestone in Public Procurement

Summary and Important Points:

1. Record Growth:

• GeM closes the fiscal year with ₹4 lakh crore in GMV, doubling the figure from the previous year.

1. Services Procurement Surge:

• Services procurement on GeM accounts for nearly 50% of GMV, with a 205% surge from last fiscal year.

1. State Contributions:

• Major contributions from States like Gujarat, Uttar Pradesh, and Delhi, along with Central Ministries and CPSEs driving growth.

1. Extensive Network:

• GeM boasts 1.5 lakh+ Government buyers and 21 lakh sellers and service providers.

1. Inclusive Initiatives:

• Initiatives like ‘Vocal for Local’, ‘One District, One Product’, and ‘Womaniya’ ensure inclusivity, with nearly 50% orders awarded to marginalized segments.

Additional Information:

• Services Procurement: GeM facilitates the procurement of a wide array of services, offering solutions to dynamic needs.

• Central Participation: Central entities, especially from Ministries of Coal, Power, and Petroleum & Natural Gas, are top procurers.

• Panchayat and Cooperative Integration: Integration of Panchayats and Cooperatives within GeM’s ecosystem promotes sustainable procurement.

• Technological Partnership: Collaboration with Tata Consultancy Services aims at enhancing the platform’s technological infrastructure.

• Product and Service Categories: GeM offers over 12070+ product and 320+ service categories for comprehensive public procurement solutions.

Examination Perspective and Concise Points for Use:

• Digital Procurement Efficiency: GeM exemplifies the role of digital platforms in enhancing public procurement efficiency.

• Economic Inclusivity: GeM's initiatives promote inclusivity and economic growth among marginalized seller segments.

• Technology in Procurement: Partnership with technology firms to improve user experience and platform security.

Key Words to Remember:

• Government e Marketplace (GeM)

• Gross Merchandise Value (GMV)

• Public Procurement

• Services Procurement

• Inclusive Initiatives

Link to Article : Press Information Bureau (pib.gov.in)

Released On : 29 March 2024