GeM hits ₹5.42 lakh crore in FY25, fuelled by surge in government procurement and insurance Services

The Government e-Marketplace (GeM) has recorded an all-time high in transactions, facilitating deals worth ₹5.42 lakh crore during the financial year 2024-25. This remarkable growth has been driven by increasing procurement activity from central ministries and public sector undertakings, according to data released by the Commerce Ministry.

This figure marks a substantial jump from ₹4.04 lakh crore in FY24. In comparison, GeM had processed ₹2.01 lakh crore in FY23 and ₹1.06 lakh crore in FY22—highlighting a consistent upward trend in digital procurement adoption.

In FY25 alone, the platform enabled procurement of goods worth ₹2.13 lakh crore and services valued at ₹3.29 lakh crore. Since its launch in August 2016, GeM has processed over 2.83 crore orders, amounting to a cumulative value of more than ₹13.41 lakh crore.

Major buyers included the Ministries of Coal, Defence, Petroleum and Natural Gas, Power, and Steel. Beyond traditional procurement, GeM also facilitated the hiring of over one million manpower resources in FY25, while extending insurance coverage to more than 1.3 crore individuals. Coverage spanned across health, life, and personal accident categories.

The insurance services category—added to the platform in January 2022—has played a critical role in bringing transparency and efficiency to government insurance procurement. Only providers approved by the Insurance Regulatory and Development Authority of India (IRDAI) are permitted to offer services on the portal, ensuring both quality and compliance.