Business
Government E-Marketplace Crosses Gross Merchandise Value Of Rs 2 Lakh Crore In FY23
Source: GeM Official Website
In the financial year 2022-2023, procurement of goods and services from government portal Government e Marketplace (GeM) has crossed the Rs 2 lakh crore mark, Union Commerce Minister Piyush Goyal said on Saturday (1 April).
The GeM portal was launched in 2016 by the Commerce Ministry and facilitates online procurement of common use goods and services required by various government departments and PSUs and aims to enhance transparency, efficiency, and speed in public procurement.
GeM is a completely paperless, cashless and system driven e-market place that enables procurement of common use goods and services with minimal human interface.
Addressing a press conference in Mumbai, Goyal said that GeM is a symbol of the speed with which Prime Minister Narendra Modi has taken the country forward through modern technology.
He highlighted the role of GeM as a digital tool in the public and national interest.
Goyal also congratulated GeM and its strong ecosystem of buyers and sellers, the Commerce Ministry said in a release.
"I am confident that GeM will grow faster, the future is very bright. I would like to appeal to more and more vendors to join GeM so that they too get a chance to participate in the government procurement process”, he added.
The business through GeM has grown from around Rs 35,000 crore two years ago and tripled last year to Rs 1 lakh 6 thousand crores, Goyal informed.
Growing to Rs 2 lakh crores in 5 years shows that this experiment of the Prime Minister has been successful, he further stated.
Earlier on Friday (31 March), Goyal had tweeted about the GeM crossing the gross merchandise value of Rs 2 lakh crore in FY23.
"A landmark achievement for the nation as GeM crosses Gross Merchandise Value of Rs 2 Lakh crore in 2022–23," Goyal said in a tweet.
"Under PM Narendra Modi ji's relentless pursuit to ensure transparent procurement, GeM is emerging as a trusted platform for buyers & sellers," he added.
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