GeM's Historic Leap: How India's Procurement Platform Achieved Unprecedented Success

The Government e-Marketplace (GeM) has set a milestone of sorts, crossing ₹4 lakh crore in Gross Merchandise Value (GMV) in a mere 10 months of the ongoing fiscal year. This is a whopping 50% increase over the corresponding period last year. The platform has rationalized procurement procedures, with services standing at ₹2.54 lakh crore and products at ₹1.55 lakh crore. GeM's success is the result of its focus on transparency, efficiency, and inclusivity, transforming India's public procurement. The top five procurers on the platform are the ministries of Coal, Defence, Petroleum and Natural Gas, Power, and Steel.
Sources: The Economic Times, Press Information Bureau (PIB)