Government e-Marketplace celebrates its 8th Foundation Day
Government e-Marketplace (GeM) commemorated its 08th Foundation Day here today.
The procurement in FY2024-25 has already reached ₹1,92,433 Crore as of 08th August 2024 which is approx. 136 percent (%) growth over the same period in the last fiscal year, and is well poised to set new records in FY 2024-25.
The procurement of Services on GeM has accelerated with the Gross Value Merchandise (GMV) of services reaching ₹3.91 lakh crore since its inception. In FY 2024-25, service procurement on GeM has already reached ₹80,493 crore. The platform has registered a 100% year-on-year growth in the last 3 fiscal years, with fulfillment of 62.86 Lakh orders worth approx. ₹ 4.03 Lakh Crore in GeM GMV in FY 2023-24. Today, more than 1.5 Lakh Government buyers are interacting and procuring goods and services from approx. 23 Lakh sellers and service providers pan India, in 11,523 product and 327 service categories, sans intermediaries.
Shri P. K. Singh, CEO-GeM presided over the ceremony and was accompanied by senior officers, employees and staff.
Speaking on the occasion, Shri P. K. Singh mentioned the roll-out of the GeM SAHAYAK program, an initiative to create a pan India pool of 6-7K trained, certified/ accredited trainers to handhold sellers and buyers on the GeM platform.
The portal has championed the social inclusion of women, tribal and SC/ ST MSMEs, startups, artisans and weavers, ODOP/ GI craftsmen, self-help groups, farmer producer organizations (FPO), and Cooperative Societies through its #vocalforlocal GeM Outlet Stores, and market interventions, namely – “access to markets”, “access to finance”, and “access to value-addition”. Presently, 9,56,465 Udyam-verified MSEs are registered on the portal who have fulfilled orders worth ₹3,87,407 Crore which is approx. 39.24 percent (%) of the Cumulative GMV. Further, 1,63,996 Women MSEs have fulfilled orders worth ₹37,430 Crore and approx. 50,000 SC/ ST MSEs have fulfilled orders worth ₹7,828 Crore. Over 25,816 Startups have secured orders worth more than ₹27,598 Crore through GeM.
Artificial Intelligence (AI) is ensuring improved product comparison and price discovery for Government buyers. Government buyers are able to avail market intelligence, product similarity, price gap analysis, anomaly detection, among other features for the real-time identification of any abnormal activity and for improved visibility to stop potential collusion among buyers and sellers. GeM is the first public procurement agency to use a generative AI-based Chat box to enhance users’ experience.
Since its launch on 9th August 2016, GeM has facilitated the procurement of common use Goods & Services by various Central/ State, Ministries/ Departments, Public Sector Enterprises (PSU), Autonomous Bodies, Panchayats, and Cooperative Societies. The genesis of GeM stems from the visionary approach of Shri Prime Minister Shri Narendra Modi in leveraging the digital public infrastructure for ushering a cashless, contactless, and paperless unified national procurement portal.