Government e-Marketplace sales turnover doubles to Rs 4 lakh crore in the fiscal year 2023-24

The Government e-Marketplace (GeM) has achieved a remarkable Gross Merchandise Value (GMV) of Rs 4 lakh crore in the 2023-24 financial year. This is double the figure from the previous fiscal year, showcasing the platform’s digital capabilities in revolutionizing public procurement.

Nearly 50% of the GMV is attributed to the procurement of services, with a significant 205% surge compared to the previous year. GeM’s success lies in breaking down the established service providers’ cartel, allowing small domestic entrepreneurs to participate in government tenders seamlessly.

Central entities, ministries, and Central public sector enterprises have played a critical role in contributing to nearly 85% of the total GMV milestone. The Ministry of Coal, Ministry of Power, and Ministry of Petroleum & Natural Gas, along with their subsidiaries, emerged as the highest procuring entities at the central level.

States like Gujarat, Uttar Pradesh, and Delhi have also significantly contributed to surpassing the public procurement target, showcasing increased engagement from various regions. GeM’s vast network of government buyers, sellers, and service providers, along with its integration of Panchayats and Cooperatives, has facilitated sustainable procurement and optimized public spending.

GeM’s inclusive initiatives like ‘Vocal for Local’, ‘One District, One Product’, ‘Startup Runway’, and ‘Womaniya’ have provided opportunities for domestic businesses to flourish. Orders amounting to nearly 50% of the GMV have been awarded to marginalized seller segments, highlighting GeM’s commitment to supporting artisans, weavers, craftsmen, MSEs, women-led businesses, SC/STs, SHGs, FPOs, and Startups.

The collaboration with over 5.2 lakh CSCs and 1.5 lakh India Post offices has expanded GeM’s outreach and capacity-building efforts at the grassroots level. With over 12,070 product categories and 320+ service categories, GeM has become a one-stop shop for seamless public procurement. The recent tie-up with Tata Consultancy Services aims to enhance user experience, transparency, and inclusivity through technological advancements.