IANS | 31 Mar, 2024
The Government e-Marketplace (GeM) has closed the 2023-24 financial
year with a Gross Merchandise Value (GMV) of a staggering Rs 4 lakh
crore which is double that of the corresponding figure for the previous
fiscal year (2022-23), the Commerce and Industry Ministry said on
Friday.
“This testifies to the portal’s unique digital capabilities that
have facilitated greater efficiency, transparency, and seamlessness in
public procurement,” the ministry said.
Nearly 50 per cent of this
GMV has been attributed to the procurement of services, displaying a
remarkable surge of 205 per cent in the segment over the previous year.
“By
creating access to the market, GeM has been exceptionally successful in
breaking down the cartel of established service providers and paved the
way for small domestic entrepreneurs to participate in government
tenders from anywhere at any time,” the ministry stated.
The
contribution made by central entities including ministries and Central
public sector enterprises have spurred the huge growth in GMV. These
government organisations have contributed to nearly 85 per cent of the
total Rs 4 lakh crore milestone.
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.
At the same time, there has also been an increased
engagement from states that has helped in this phenomenal growth in GMV.
The highest procuring states like Gujarat, Uttar Pradesh, and Delhi,
have contributed to surpassing the public procurement target for this
year.
GeM’s vast network of 1.5 lakh+ government buyers and 21
lakh sellers and service providers have made this incredible feat
possible. By integrating 89421 Panchayats and 760+ Cooperatives within
its procurement ecosystem, GeM has facilitated sustainable procurement
while ensuring optimisation in public spending at the very last level of
administration, the official statement said.
“Through its
inclusive initiatives like ‘Vocal for Local’, ‘One District, One
Product’, ‘Startup Runway’, ‘Womaniya’ etc., GeM has provided a
level-playing field for domestic businesses to grow and thrive. Of the 4
lakh crore GMV, orders nearly 50 per cent have been awarded to
marginalised seller segments such as artisans, weavers, craftsmen, MSEs,
especially women-led and SC/STs, SHGs, FPOs and Startups.
GeM’s
collaboration with 5.2 lakh+ CSCs and 1.5 lakh+ India Post offices has
served as a phenomenal force in maximising outreach and
capacity-building at micro levels,” said GeM CEO PK Singh.
He said
GeM has become a one-stop shop for seamless public procurement as it
offers over 12070 product categories and 320+ service categories.
Earlier
this year, GeM tied up with leading tech giant Tata Consultancy
Services, which has helped to create a more versatile and secure
technological infrastructure by adapting new-age technologies to further
enhance user experience, improve transparency, and induce greater
inclusivity, Singh added