GeM Reaches Rs 1,55,000 Crore GMV in 10 Years

Commerce and Industry Minister Piyush Goyal announced that the Government e-Marketplace (GeM) has achieved a gross merchandise value (GMV) of over Rs 1,55,000 crore, a significant increase from Rs 422 crore a decade ago.

This growth is a testament to the platform's success in rewriting the rules of public procurement. GeM has enhanced competition, improved price discovery, reduced procurement cycle times, and generated significant savings for the government.

Over 12.28 lakh Micro and Small Enterprises (MSEs), including more than 2.25 lakh led by women, and over 42,000 startups are registered on the portal. This demonstrates the government's commitment to grassroots empowerment, making government markets more accessible to MSEs, startups, women entrepreneurs, Self-Help Groups, artisans, and weavers.

The GeM platform connects more than 1.37 lakh government buyer organisations with nearly 25 lakh sellers and service providers. The focus is shifting towards a smarter and more integrated public procurement ecosystem with GeM, which was launched on August 9, 2016.

Artificial intelligence and wider participation will further strengthen transparency, efficiency, and governance. By connecting government demand with local enterprises, GeM advances the 'Vocal for Local' and 'Make in India' initiatives, promoting inclusive economic growth.

GeM has become an important pillar of India's Digital Procurement Ecosystem, providing a comprehensive digital marketplace with over 10,660 product categories and 350 service categories. This meets diverse government procurement needs, facilitating transactions and supporting India's journey towards a digitally empowered and self-reliant economy.

The minister stated that GeM is emerging as a key driver of self-reliance, strengthening the foundation of a Viksit Bharat. The platform's growth and impact demonstrate the government's commitment to empowering local enterprises and promoting inclusive economic growth.

In the future, GeM is expected to continue playing a crucial role in India's digital procurement ecosystem, driving transparency, efficiency, and governance. With its focus on grassroots empowerment and inclusive economic growth, GeM is poised to make a significant impact on the country's economy.

The success of GeM has significant implications for India's economic growth and development. By promoting local enterprises and startups, the platform is helping to create jobs and stimulate economic activity. This, in turn, is expected to contribute to the country's overall economic growth and development.

In conclusion, the Government e-Marketplace has achieved significant growth and success over the past decade, rewriting the rules of public procurement and empowering local enterprises and startups. Its impact is expected to be felt for years to come, driving transparency, efficiency, and governance in India's digital procurement ecosystem.

The GeM's growth is a testament to the government's commitment to promoting inclusive economic growth and empowering local enterprises. As the platform continues to evolve and grow, it is expected to play an increasingly important role in India's economic development, driving growth and prosperity for years to come.

The minister's announcement highlights the importance of GeM in India's economic growth and development. The platform's success demonstrates the government's commitment to promoting local enterprises and startups, and its impact is expected to be felt for years to come.

The future of GeM looks promising, with the platform expected to continue driving transparency, efficiency, and governance in India's digital procurement ecosystem. With its focus on grassroots empowerment and inclusive economic growth, GeM is poised to make a significant impact on the country's economy, driving growth and prosperity for years to come.