Ministry of Defense becomes the largest buyer of MSME goods in 2022
Recently, Government e-Marketplace (GeM) informed through a tweet that in 2022, the Ministry of Defense emerged as the largest buyer through MSME sellers.
An overview of the news
In 2022, the Ministry of Defense envisages procurement of goods and services worth Rs 16,747 crore from the MSME sector. This was 250% more than the purchases made in 2021.
Among the states, Uttar Pradesh procured the maximum. Uttar Pradesh procured goods and services worth Rs 9,642 crore through GeM.
GeM business in 2022
GeM's turnover in 2022 is Rs 1,06,647 crore, which is expected to double in 2023.
Compared to 2016, when GeM was first launched, its business has grown 17 times.
Government-e-Marketplace (GeM) Platform
Launch - 9 August 2016
Objective - To bring transparency and efficiency in the government procurement process
Nodal Ministry - Ministry of Commerce and Industry
GeM works on inclusion, transparency and efficiency
Who registers on GeM - Artisans, weavers, SHGs, startups, women entrepreneurs and MSMEs are registered.
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