GeM achieves record ₹4 lakh crore GMV, doubles business in a year

The Government e Marketplace (GeM) has concluded the financial year with a remarkable Gross Merchandise Value (GMV) of ₹4 lakh crore, doubling its GMV from the previous fiscal year. This achievement underscores the portal’s advanced digital capabilities, which have enhanced efficiency, transparency, and seamlessness in public procurement.

A significant driver behind this growth has been the procurement of services through GeM, accounting for nearly 50% of the GMV and experiencing a remarkable 205% surge from the previous fiscal year. GeM’s access to market has enabled small domestic entrepreneurs to participate in government tenders, breaking the dominance of established service providers. The wide array of services on GeM has empowered states to procure innovative solutions that meet their dynamic needs.

The substantial engagement from states, especially from top procuring states like Gujarat, Uttar Pradesh, and Delhi, has contributed significantly to this growth. Central entities, including ministries and CPSEs, have also played a crucial role, contributing to nearly 85% of the ₹4 lakh crore GMV milestone. Ministries such as Coal, Power, and Petroleum & Natural Gas, along with their subsidiaries, have emerged as the highest procuring entities at the central level.

GeM’s extensive network of over 1.5 lakh government buyers and 21 lakh sellers and service providers has been instrumental in achieving this milestone. By integrating Panchayats and Cooperatives into its procurement ecosystem, GeM has facilitated sustainable procurement and optimized public spending at the grassroots level.

PK Singh, CEO of GeM, highlighted the platform’s inclusive initiatives like ‘Vocal for Local’, ‘One District, One Product’, ‘Startup Runway’, and ‘Womaniya’. These initiatives have provided a level playing field for domestic businesses, with nearly 50% of the GMV orders awarded to marginalized seller segments such as artisans, weavers, craftsmen, MSEs, especially women-led and SC/STs, SHGs, FPOs, and startups. GeM’s collaboration with CSCs and India Post offices has further maximized outreach and capacity-building at the grassroots level.

Earlier this fiscal year, GeM partnered with Tata Consultancy Services to enhance its technological infrastructure, improve user experience, transparency, and inclusivity. This partnership aims to revamp and redesign the platform leveraging new technologies, while maintaining its current platform.

With over 12070+ product categories and 320+ service categories, GeM has become a one-stop shop for seamless public procurement, offering opportunities for sellers and service providers across the nation to showcase their products and services in a transparent manner. GeM’s journey from a ₹422 crore GMV in 2016 to the ₹4 lakh crore landmark demonstrates its commitment to efficiency, transparency, and inclusivity in public procurement, positioning it as a leading public procurement platform globally.