Government e Marketplace procurement crosses Rs 2 lakh-crore mark

The procurement of goods and servers from the government portal Government e Marketplace (GeM) has crossed the Rs 2 lakh crore mark, Union Commerce and Industry Minister Piyush Goyal said.

“I am confident that GeM will grow faster, the future is very bright. I would like to appeal to more and more vendors to join GeM so that they too get a chance to participate in the government procurement process,” Goyal said in Mumbai on Saturday.

"After the GeM portal was launched in 2017, business worth about Rs 400 crore was done, and in the second year, GeM did business of about Rs 5,800 crore.

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The business through GeM has grown from around Rs 35,000 crore two years ago and tripled last year to Rs 1 lakh 6 thousand crores,” the Minister informed.

“Growing to Rs 2 lakh crores in 5 years shows that this experiment of the Prime Minister Narendra Modi has been successful,” Goyal was quoted saying in a press statement.

The Minister also mentioned that India has crossed total exports of $750 billion for the financial year 2022-23 and the final figure is expected to cross $765 billion.

The G20 Trade and Investment Working Group Meeting was held in Mumbai recently, also saw positive discussions, he informed.

The Union Minister expressed that India has got the Presidency of the G-20 under the leadership of Prime Minister, and it is a great opportunity to showcase the achievements of the rapidly developing New India to the world.

The GeM is an online platform for public procurement in India that was envisaged by the Prime Minister. The initiative was launched on August 9, 2016 by the Ministry of Commerce and Industry with the objective of creating an inclusive, efficient, and transparent platform for the buyers and sellers to carry out procurement activities in a fair and competitive manner.