The gross merchandise value (GMV) of the state-run government e-marketplace (GeM) is anticipated to witness a remarkable surge of 75%, reaching ₹3.5 trillion in the current financial year.
This substantial growth is attributed to the increased procurement activities by various government departments utilizing the GeM platform, as reported by informed sources.
Compared to the previous fiscal year's GMV of ₹2 trillion, the expected rise of ₹1.5 trillion highlights the substantial impact GeM has had on streamlining government procurement processes.
The platform, which serves as a central hub for government entities to procure goods and services, has become increasingly pivotal in enhancing efficiency and transparency in procurement procedures.
GeM presently offers an extensive array of 11,880 products and 320 services, catering to the diverse needs of its expansive clientele, comprising over 70,000 government departments.
This broad product and service portfolio underscores GeM's commitment to providing a comprehensive marketplace for government procurement, contributing significantly to the digitization and modernization of the public procurement landscape.
The surge in GMV reflects the government's continued efforts to leverage digital platforms for efficient and cost-effective procurement, ultimately contributing to the overall economic growth.
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