Purchases from the GeM portal exceed Rs 2 trillion to this point this monetary 12 months

Business Standard

Procurement of products and companies from the federal government portal GeM has crossed Rs 2 lakh crore to this point this monetary 12 months as a consequence of rising procurement actions by numerous ministries and departments.

The Authorities e-Market (GeM) portal was launched on August 9, 2016, for on-line procurement of products and companies by all central authorities ministries and departments.

“Jewel of a landmark! Authorities e-marketplace to attain staggering gross merchandise worth of Rs 2 lakh in simply eight months of 2023-24,” Commerce and Trade Minister Piyush Goyal stated on social media platform X.

In 2021-22, the worth of procurement stood at Rs 1.06 lakh crore. It crossed Rs 2 lakh crore final 12 months and is on development this 12 months and will cross Rs 3 lakh crore.

GeM has greater than 63,000 purchaser authorities organizations and greater than 62,000 sellers and repair suppliers, providing a variety of services and products.

At the moment, authorities departments, ministries, public sector models, state governments and central armed police forces are allowed to conduct transactions by this portal.

The portal presents a variety of merchandise from workplace stationery to autos.

Vehicles, computer systems and workplace furnishings are among the essential product classes.

Providers, together with transportation, logistics, waste administration, webcasting and evaluation, are listed on the portal.

South Korea’s KONEPS is the most important platform of its form on the earth.

At the moment, GeM is ranked third after GeBIZ in Singapore.

(Solely the title and picture of this report could have been reworked by Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)

(Tags for translation) Procurement

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