Ministry of Defense becomes the largest buyer of MSME goods in 2022

Tags: Economics/Business

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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