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GOVERNMENT E-MARKETPLACE (GeM)

Why in the News?

• Government e-Marketplace (GeM) achieves a milestone of two lakh crore in Gross Merchandise Value (GMV) in less than eight months.
• Average GMV per day exceeds 850 crore rupees, showcasing substantial growth in the current fiscal year.

Source: ET Government

What is GeM? 

• GeM, a National Public Procurement Portal, simplifies online procurement for common Goods & Services by Central and State Government entities.
• Mandatory procurement through GeM for Ministries and Central Public Sector Enterprises (CPSEs) ensures streamlined transactions.
• The platform integrates e-bidding and reverse e-auction tools, aiding government users in optimizing value for money.
• Launched in 2016 GeM’s primary goals include enhancing transparency and efficiency in the government’s procurement procedures. 

Ministry Associated

• The Ministry of Commerce and Industry

Services Sector Expansion

• GeM’s expansion into the services sector drives accelerated adoption.
• Services sector contribution to total order value rises from 23% in FY 2021-22 to nearly 46% in the current financial year.

Cost Savings and Efficiency

• Economic Survey 2021-22 highlights GeM’s prices being 9.5% lower than other platforms for 10 out of 22 commodities.
• GeM’s success lies in dedication to cost savings, saving over 45 thousand crore rupees since 2016.

Transparency and Innovation

• GeM’s transformative journey showcases transparency, efficiency, and inclusivity.
• Driven by cutting-edge technology and innovation, GeM has become a testament to modern procurement practices.

Diverse Catalogue

• GeM portal features nearly 312 service categories and over 11,800 product categories.
• Cumulatively surpassing 93 lakh crore rupees GMV since inception, indicating broad stakeholder support.

Transaction Milestone

• The total number of transactions on GeM crosses 8 crore, reflecting the platform’s widespread use and efficiency.