10x growth in procurement from Govt e-Marketplace in 3 years

Commerce and industry minister Goyal praises all stakeholders for being a catalyst of change

GN Bureau | June 28, 2023

#Commerce   #Economy   #Business   #Piyush Goyal   #GeM  
(Illustration: Ashish Asthana)
(Illustration: Ashish Asthana)

Union minister of commerce and industry, consumer affairs, food and public distribution and textiles Piyush Goyal highlighted the ''10x'' growth in procurement from Government e-Marketplace (GeM) in the last three years.

The minister praised all the stakeholders of GeM for being a catalyst of change during his address at the ‘Kreta-Vikreta Gaurav Samman Samaroh 2023’ organized by GeM in New Delhi Monday.

Goyal lauded the efforts of the awardees, whose contribution has brought about the transformational change in the public procurement landscape of the country. The Minister noted that GeM is endeavouring to achieve the vision of prime minister Narendra Modi of a unified, transparent and efficient procurement system through leveraging technology and analytics. He emphasised how GeM has enabled benefits of scale and achieved multidimensional growth in the last seven years.

He said that the saving of taxpayers' money has resulted in its better utilisation for public welfare projects, due to increased use of GeM by central and state departments for procurement of goods and services. The minister expressed hope that overall procurement of goods and services from the government portal GeM would cross Rs 3 lakh Crore in FY 2022-23 as it has already crossed Rs 2 lakh crore in 2022-23.

He said that the ministry of commerce and industry is continuously trying to improvise the system. Goyal said that a new system is being developed at GeM, which will be more contemporary and modern with more elements for ease of operations. He said that data analytics will be offered in the new system to help the buyers and sellers in making decisions related to procurement. Shri Goyal said that India's largest software exporter TCS has won the contract for running and maintaining the government procurement portal GeM.

GeM organized the ‘Kreta Vikreta Gaurav Samman Samaroh 2023’ to recognise the outstanding performance of government buyers and sellers in the public procurement process through GeM. The buyer-seller award ceremony is an initiative by GeM to acknowledge the efforts of government buyers and sellers who have performed exceptionally well in using the platform for the procurement process in FY 22-23.
GeM has been instrumental in transforming the way government procurement is done in India. Established in 2016, GeM was set up with a vision to bring about a paradigm shift in the country’s public procurement landscape. The platform has enabled transparency, efficiency, and cost-effectiveness in the procurement process, making it easier for buyers to procure goods and services from sellers across the country.

As on 31st March 2023, GeM had recorded a staggering Rs 2 lakh crore of Gross Merchandise Value (GMV) in FY 2022-23. Cumulatively, GeM has surpassed the Rs 4.29 lakh crore GMV since its inception, with the overwhelming support of its stakeholders. The total number of transactions on GeM has also crossed 1.54 crore. GeM is catering to the diverse procurement needs of over 69,000 government buyer organisations. The portal features over 11,800+ product categories as well as over 280+ service categories. Based on various studies, the minimum savings on the platform are about 10%, which translates into a savings of about Rs 40,000 crore worth of public money.

The Government e-Market (GeM) portal was launched on August 9, 2016, by the ministry of commerce and industry for online purchases of goods and services by all the Central Government Ministries and Departments. GeM has over 63,000 government buyer organisations and over 62 lakh sellers and service providers offering a wide range of products and services.



Other News

Phase 6: Voter turnout 59.06% at 7:45 PM

Polling in the sixth phase of General Elections 2024 which commenced across 58 PCs recorded an approximate voter turnout of 59.06% as of 7:45 pm Saturday. In spite of hot weather in certain parts of the country, voters were undeterred in their enthusiasm as they were seen queuing up patient

Banks not adhering to RBI guidelines, finds study

Banks across India are levying inconsistent service charges on basic savings accounts. A study, “Benchmarking Reasonableness of Service Charges by Banks in India”, uncovers and exposes inconsistencies in adherence to RBI mandates by banks. It finds some banks impose charges exceeding reasonable

“Mumbai Infra boom similar to that of Manhattan in 19th C”

Mumbai’s ongoing infrastructure boom – with a new coastal road, Atal Setu, metro lines and much more – creating transport corridors – is comparable to that of Manhattan in New York during 1811-1870, according to BMC commissioner Bhushan Gagrani. The iconic projects being implemented

Global Gandhi: How the Mahatma captured the world’s imagination

Gandhi’s Australia, Australia’s Gandhi By Thomas Weber Orient BlackSwan, 348 pages, Rs 1,800  

Urban apathy in Mumbai, Maharashtra sees 49% voting

Polling in the fifth phase of General Elections 2024 which commenced at 7 am on Monday simultaneously across 49 PCs recorded an approximate voter turnout of 57.47% as of 7:45 pm. Voters came out in large numbers braving hot weather in many parts of the states that went for polls on Monday.

Voter turnout: Drop from 2019 reduces further

As the voting percentages dropped drastically in the first couple of phases of the ongoing general elections, observers and analysts spoke of ‘voter apathy’ blamed it on a lack of “wave” this time – apart from the heatwave, that is. The latest figures after the fourth phase, h

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Current Issue


Facebook Twitter Google Plus Linkedin Subscribe Newsletter