New Delhi, March 30 (TNA) Government e-Marketplace has closed this financial year with ₹ 4 lakh crore in Gross Merchandise value (GMV) - doubling its GMV clocked at the end of the previous Fiscal Year. This testifies to the portal’s unique digital capabilities and functionalities that have facilitated greater efficiency, transparency, and seamlessness in public procurement.

The procurement of Services through the GeM portal has proved to be a pivotal force behind this staggering GMV. Nearly 50% of this GMV has been attributed to the procurement of Services, displaying a remarkable surge of 205% in terms of Services procured on GeM last FY.

By creating access to market, GeM has been exceptionally successful in breaking down the cartel of established and renowned service providers, paving way for small domestic entrepreneurs to participate in government tenders from anywhere at any time. The vast repository of Services on GeM has enabled States to procure innovative solutions that cater to all their dynamic needs.

Increased engagement from States has also mobilized this phenomenal growth in GMV. In this FY, the highest procuring states like Gujarat, Uttar Pradesh, and Delhi, have helped States well surpass the earmarked public procurement target of this year. The contribution made by central entities including Ministries and CPSEs has also greatly spurred the GMV.

These Government organizations have contributed to nearly 85 % of this ₹ 4 lakh crore milestone. Notably, the Ministry of Coal, Ministry of Power and Ministry of Petroleum & Natural Gas and their subsidiaries have emerged as the highest procuring entities at the central level.

GeM’s vast network of 1.5 lakh+ Government buyers and 21 lakh sellers and service providers have made this incredible feat possible. Through comprehensive onboarding of last-mile buyers and sellers, GeM has fostered engagement at the grassroots level. By integrating 89421 Panchayats and 760+ Cooperatives within its procurement Ecosystem, GeM has facilitated sustainable procurement while ensuring optimization in public spending at the very last level of administration.

New Year Darshans Of Gods From Around The World: January 1, 2022

Related Stories