Government e-Marketplace achieves a Gross Merchandise Value of Rs 1.5 Lakh Crores

Tags: Economy/Finance National News

As of 1 February 2023, the Government e-Marketplace (GeM) has achieved Rs 1.5 lakh crore of Gross Merchandise Value (GMV) in FY23 alone.

An overview of the news

• GeM is well positioned to cross its annual target of Rs 1.75 lakh crore.

• GeM has crossed a gross business value of Rs 3 lakh crore since inception with the support of its stakeholders.

• The total number of transactions on GeM has crossed 1.3 crore.

• GeM has over 66,000 government buyer organisations and over 58 lakh sellers and service providers.

• GeM portal features over 11,000 product categories with more than 29 lakh listed products.

About Government-e-Marketplace (GeM) platform

• Launch -  9 August 2016

• Purpose  - to bring transparency and efficiency in the government buying process

• Nodal Ministry  -  Ministry of Commerce and Industry

• GeM works on inclusion, transparency and efficiency.

• Who registered on GeM - Artisans, weavers, SHGs, startups, women entrepreneurs & MSMEs are registered on GeM

• The portal is open for - all government buyers, Central and State Ministries, departments, public sector enterprises, autonomous institutions, local bodies, etc

• Private buyers cannot buy on the platform but private people can sell products to government bodies by the portal.