Government's e Marketplace Will Soon Be Number One Public Procurement Portal - Says CEO

 

Government e-Marketplace (GeM) is a one-stop website that allows various government agencies, organisations, and PSUs to acquire common goods and services online. GeM aims to improve the speed, efficiency, and transparency of public procurement. It provides e-bidding, reverses e-auction, and demand aggregation solutions to enable government users to get the most bang for their buck.

All Central and State Government Ministries and Departments, as well as their affiliated or subordinate offices, Central and State Autonomous Bodies, Central and State Public Sector Units, local governments, and so on, may use the GeM portal for procurement.

GeM is a completely paperless, cashless, and system-driven e-marketplace where you may buy everyday goods and services with little to no human interaction. To a large extent, GeM eliminates human interaction in vendor registration, order placement, and payment processing.

The site was launched in August 2016 to enable all central govt ministries and agencies to conduct online purchases of goods and services.

The Government's e-Marketplace (GeM) topped Rs 1 lakh crore in procurements for this fiscal year at 4 PM on November 29th. The site had a net sales value (GMV) of $14.2 billion in FY22.

Although it is just six years old, the government's online marketplace has already carved out a sizable market share. It has a gross merchandise value that approaches that of commercial competitors like Amazon India or Flipkart... and public procurement numbers that place it among the top three portals in the world, thanks to the passionate support of government ministries.

In the current fiscal year, the Government e-Marketplace (GeM) procured Rs 1 lakh crore, with this figure expected to rise to Rs 1.5 lakh crore in 2022-23.

The aggregate Gross Merchandise Value (GMV) of the GeM attained Rs 1 Lakh crore over four and a half years from its start until March 23, 2021, whereas the GMV of the GeM in the current fiscal year topped Rs 1 lakh crore in less than a year. This is a 160% increase over the previous fiscal year.

The portal revolutionized public procurement in India by focusing on its three pillars: inclusivity, usability, and openness, as well as efficiency and cost savings. The number of orders has also topped 31.5 lacks in the current fiscal year, with a 22% increase. GeM has grown to become one of the world's largest government e-procurement platforms in just five years.

GeM has made several initiatives to incorporate products from Self-Help Groups (SHGs), tribal communities, craftspeople, weavers, and MSMEs into government procurement. MSME units have contributed 57% of overall business on GeM, and female entrepreneurs have contributed more than 6%. It should be mentioned that the number of female merchants and entrepreneurs on GeM has increased sixfold in a year.

According to the CEO, the Government's e-Marketplace will soon be the No. 1 public procurement portal based on all of these accomplishments, records, and data.

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