Home / Business and Economy / GeM Portal Surges Past Rs 4 Lakh Crore Procurement
GeM Portal Surges Past Rs 4 Lakh Crore Procurement
4 Feb
Summary
- GeM procurement surpasses Rs 4 lakh crore this fiscal year.
- Over 50 lakh buying and selling orders processed on the platform.
- MSME procurement orders at 45%, exceeding the 25% mandate.
The Government e-Marketplace (GeM) has seen its procurement of goods and services cross the Rs 4 lakh crore mark during the current fiscal year. This achievement is underscored by over 50 lakh buying and selling orders processed through the platform by government ministries and departments.
GeM CEO Mihir Kumar highlighted that approximately 45% of all public procurement orders are currently being placed with MSMEs. This figure notably surpasses the mandatory requirement of 25%, demonstrating a strong commitment to supporting smaller enterprises.
Since its launch on August 9, 2016, GeM has facilitated a total of Rs 17.33 lakh crore in government procurement. The portal currently hosts over 1.5 lakh government buyers and more than 62 lakh sellers and service providers, offering a vast array of products and services.
Looking ahead, projections indicate that procurements for FY'25 are expected to surpass last year's levels. In the previous fiscal year, FY'25, the portal recorded 72 lakh orders valued at Rs 5.43 lakh crore, signaling continued growth and increased utilization.
