Government has now set a target of 100% procurement through the public procurement portal Government e-Marketplace (GeM)

 Government sets a target of 100% procurement through Government eMarketplace

 

In a recently held review meeting of Government e-Marketplace (GeM), which is a public procurement portal, Commerce Minister Piyush Goyal highlighted that the government has set an objective of 100 percent procurement of its products and services to be made through government e market portal (GeM) by the closing of the current fiscal year. More than 50 Central Government Ministries and CPSEs were invited to the review meeting to share their feedback on buying from the GeM portal.

Mr. Goyal acknowledged and lauded the efforts made by various buyer organizations to increase their procurements through Government e-Marketplace (GeM). Buyers present at the meeting were also briefed about the new features and functionalities updated on GeM and developments planned for the near future.

During the meeting, Piyush Goyal emphasized the need for strict vigil to identify anomalies in procurement through Government e-Marketplace (GeM) with the help of Advanced Analytics and AI ML-based tools, which will enable immediate and strict actions against those responsible for it.

Goyal stated that government e market portal (GeM) is helping the government improve transparency and efficiency in public procurement and has changed the way public procurement is perceived by the public at large. He further noted that the aggregation of demand via the procurement model through a single public procurement portal will also help in reducing procurement costs for the buyers. He also added that with the collective wisdom and collective efforts of all stakeholders, the portal could well become the largest public procurement portal in the world.

GeM witnessed a significant jump of 178 percent in gross merchandise value (GMV) from Rs 38,280 crore in Fiscal Year 21 to Rs 1,06,760 crore in FY22 and almost 55 percent of the overall turnover in the previous financial years. This shows the significant growth journey GeM has been on since it came into being and is aiming to double the turnover to Rs 2 lakh crore in FY23.

So far, the Government e-Marketplace portal has over 61,440 government organisations as buyers and 50+ lac sellers and service providers with listings of over  46.93 lakh product and service offerings. Almost all the states (except Sikkim) in the country have signed MoUs with GeM, and over 239 CPSUs have registered on GeM and are making significant procurement via the GeM Portal.

Recently, Union Home and Cooperation Minister Amit Shah launched the onboarding of cooperatives on the government e market portal (GeM) portal. This allows cooperatives to procure products and services from the GeM portal like other government buyers.

With such significant onboardings and the consistent procurements by various buyer organizations, GeM is expected to set new procurement records very soon.

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