The integrated digital platform, Government e-marketplace (GeM) has recorded a Gross Merchandise Value of Rs 3 lakh crore, significantly surpassing the total GMV recorded at the end of the previous fiscal year i.e. Rs 2 lakh crore.
There has been a notable increase in the daily average GMV transaction value during this period, rising from Rs 504 crore in FY 22-23 to Rs 914 crore as of February 12, 2024.
GeM, was conceptualised by Prime Minister Narendra Modi with a mission to take the idea of 'Minimum Government, Maximum Governance' forward through digital platforms.
Since its inception in 2016, GeM has revolutionised the landscape of public procurement, providing a transparent and efficient online infrastructure for the procurement of goods and services by Central/State Ministries, Departments, Public Sector Undertakings, Panchayats and Cooperatives.
As of February 12, 2024, GeM directly links over 20 lakh sellers and service providers across the country with more than 3 lakh Government buyers (primary as well as secondary buyers).
By digitally integrating all stakeholders in the public procurement process, GeM has eliminated harmful practices like collusion, corruption and bribery in government spending, thereby inculcating greater transparency in public finances.
The platform currently showcases more than 12,200+ Products and services categories with offerings covering all complex and dynamic requirements of government buyers across the country.
In the ongoing financial year, GeM has actively engaged with various government bodies, focusing on maximizing their participation in public procurement processes through the platform.
Central entities have accounted for 82% of the current GMV, while increased involvement from States has been instrumental in driving the platform's growth.
Notably, States have collectively placed orders worth Rs 49,302 crore in the fiscal year 2023-2024, indicating a remarkable 56% increase compared to the corresponding period in the previous fiscal year.
Key states such as Uttar Pradesh, Gujarat, Maharashtra, Madhya Pradesh, and Delhi have emerged as top procurers on the platform, demonstrating their trust in GeM's ability to achieve cost-efficiency in public procurement.
GeM's inclusive approach has played a pivotal role in its success, catering to marginalized seller segments including artisans, weavers, craftsmen, Micro and Small Enterprises (MSEs), especially women-led and SC/ST MSEs, Self-Help Groups (SHGs), Farmer Producer Organizations (FPOs), and startups.
Policies aimed at fostering diversity and inclusivity have provided a level playing field for domestic businesses, with nearly 50% of the total order value transacted through the platform being awarded to MSEs.
Since its inception, GeM has facilitated approximately Rs 3.27 lakh crore of business to MSEs, with orders worth Rs 22,200 crore fulfilled by women-led MSEs alone.
In addition, GeM has initiated a comprehensive onboarding drive to register Panchayati Raj institutions and Cooperatives as buyers, recognizing them as crucial stakeholders within its network.
Integration with e-Gram Swaraj has facilitated engagement with buyers and sellers at the grassroots level, resulting in transactions worth Rs 265 crore carried out by over 70,000 Panchayats and 660 Cooperatives.
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