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Business News/ News / India/  Govt e-Marketplace tops 1 lakh crore GMV in 145 days
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Govt e-Marketplace tops ₹1 lakh crore GMV in 145 days

The average GMV per day has also witnessed significant growth from ₹412 crore per day in FY22-23 to ₹690 crore per day in FY23-24

Since its inception, GeM has notched up ₹4.91 lakh crore in GMV and has facilitated over 1.67 crore orders on the platformPremium
Since its inception, GeM has notched up 4.91 lakh crore in GMV and has facilitated over 1.67 crore orders on the platform

New Delhi: Government e-Marketplace (GeM) has surpassed 1 lakh crore in gross merchandise value (GMV) in a record 145 days of the current financial year.

"This outstanding achievement underscores GeM's commitment to revolutionizing government procurement and signifies a substantial improvement compared to the previous year, where this GMV landmark was reached in 243 days," the ministry of commerce & industry said.

The average GMV per day has also witnessed significant growth from 412 crore per day in FY22-23 to 690 crore per day in FY23-24, it added.

Since its inception, GeM has notched up 4.91 lakh crore in GMV and has facilitated over 1.67 crore orders on the platform.

Among the notable contributors to this GMV achievement, central public sector enterprises (CPSEs), central ministries, and state governments have played pivotal roles, contributing 54%, 26%, and 20% respectively.

The platform's integration with e-Gram Swaraj to streamline Panchayat-level procurement exemplifies its commitment to reaching last-mile sellers and optimizing costs at the grassroots level of administration.

"With a vast assortment of over 30 lakh listed products and an impressive portfolio of over 300 service categories, GeM is well-equipped to meet the diverse product and service needs of government departments nationwide," the ministry said.

Consequently, the platform has also witnessed a substantial surge in orders from various state governments and affiliated entities, firmly establishing GeM as a go-to solution for government procurement, it added.

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Published: 23 Aug 2023, 07:15 PM IST
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