Ten-fold growth in procurement from Government e-Marketplace in last 3 years, says Piyush Goyal
New Delhi, June 28, 2023
Union Minister of Commerce and Industry Piyush Goyal has highlighted the ten-fold growth in procurement from Government e-Marketplace (GeM) in the last three years.
The Minister praised all the stakeholders of GeM for being a catalyst of change during his address at the ‘Kreta-Vikreta Gaurav Samman Samaroh 2023’ organised by GeM in New Delhi yesterday.
He lauded the efforts of the awardees, whose contribution has brought about transformational change in the public procurement landscape of the country.
The Minister noted that GeM is endeavouring to achieve the vision of Prime Minister Narendra Modi of a unified, transparent and efficient procurement system through leveraging technology and analytics. He emphasised how GeM has enabled the benefits of scale and achieved multidimensional growth in the last seven years.
The saving of the taxpayers' money due to the increased use of GeM by Central and State Departments for procurement of goods and services has resulted in its better utilisation for public welfare projects. He expressed the hope that overall procurement of goods and services from the GeM portal would cross Rs 3 lakh crore in FY 2022-23 as it has already crossed Rs 2 lakh crore in 2022-23.
The Ministry was continuously trying to improvise the system. A new system is being developed at GeM, which will be more contemporary and modern with more elements for ease of operations. Data analytics will be offered in the new system to help the buyers and sellers in making decisions related to procurement.
The award ceremony was attended by Union Minister of State for Commerce and Industry Anupriya Patel, CEO, GeM, PK Singh, and senior officials from the Government and from the industry. The buyer-seller award ceremony is an initiative by GeM to acknowledge the efforts of government buyers and sellers who have performed exceptionally well in using the platform for the procurement process in FY 22-23.
Established in 2016, GeM was set up with a vision to bring about a paradigm shift in the country’s public procurement landscape. The platform has enabled transparency, efficiency, and cost-effectiveness in the procurement process, making it easier for buyers to procure goods and services from sellers across the country.
As on March 31, 2023, GeM had recorded Rs 2 lakh crore of Gross Merchandise Value (GMV) in FY 2022-23. Cumulatively, GeM has surpassed the Rs 4.29 lakh crore GMV since its inception. The total number of transactions on GeM has also crossed 1.54 crore.
GeM is catering to the diverse procurement needs of over 69,000 government buyer organisations. The portal features over 11,800 product categories as well as over 280 service categories.
Based on various studies, the minimum savings on the platform are about 10%, which translates into a savings of Rs 40,000 crore worth of public money.