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.