The Government e-Marketplace (GeM) portal, launched in 2016 to facilitate online procurement of goods and services by government entities, has achieved a remarkable milestone of ₹2 trillion in Gross Merchandise Value (GMV) for the fiscal year 2022-23. This represents a doubling of growth within a single year, as the portal registered a business of over ₹1 trillion in 2021-22.
GeM’s Growth and Impact
GeM has witnessed exponential growth in its transactions, reaching a cumulative Gross Merchandise Value (GMV) of over ₹5.93 lakh crore since its inception. In the current fiscal year 2023-24, GeM has already crossed the ₹2 lakh crore mark in GMV, indicating that it may surpass ₹3 lakh crore by the end of the year . This is a remarkable achievement, considering that GeM did a business of only ₹400 crore in its first year of operation.
GeM’s impact is not only measured by its GMV, but also by its contribution to the socio-economic development of the country. GeM has enabled the participation of small and micro enterprises (SMEs), startups, women entrepreneurs, artisans and self-help groups in the government procurement process, creating opportunities for them to grow and prosper. Nearly half of the total order value transacted through GeM has been awarded to SMEs. In just seven months, more than 45,000 SMEs have registered as sellers/service providers on GeM.
GeM has also facilitated the procurement of diverse products and services, ranging from office stationery to vehicles to computers and office furniture. Services offered by GeM include transportation, logistics, waste management and webcasting. Currently, GeM displays a catalogue of 312 service categories and over 11,800 product categories. GeM has also expanded into the services sector, which now accounts for 46% of the total procurement value in the current fiscal year, up from 23% in 2021-22.
GeM’s Future Plans and Vision
GeM is not resting on its laurels, but is constantly innovating and improving its platform to meet the evolving needs of its buyers and sellers. GeM is working on introducing new features and functionalities, such as dynamic pricing, contract management, e-invoicing, e-signing, artificial intelligence and blockchain. GeM is also planning to integrate with other government platforms, such as GSTN, MCA21, Aadhaar and PAN, to enable seamless verification and authentication of users.
GeM’s vision is to become a one-stop shop for all government procurement needs, offering a wide range of products and services at competitive prices and quality standards. GeM aims to become a global leader in public procurement, benchmarking itself against the best practices of other countries. GeM’s ultimate goal is to serve the nation by enhancing transparency, efficiency and inclusiveness in government procurement.
The portal also aims to collaborate with cooperatives in the country to boost their procurement activities. At present, GeM stands at the third position after Singapore’s GeBIZ and South Korea’s KONEPS among the global e-procurement platforms. The portal aspires to become a world leader in public procurement by leveraging technology and innovation.