GeM crossed ₹4 lakh crore Gross Merchandise Value at the end of the fiscal year

GeM crossed ₹4 lakh crore Gross Merchandise Value at the end of the fiscal year

The Government e Marketplace has achieved a milestone by crossing the ₹4 lakh crore Gross Merchandise Value (GMV) at the end of this financial year which is double than the last year. This is a great achievement towards the ambition goal of digital inclusion in India.

Reasons behind the success:

This achievement could be due to the unique digital capabilities of the Government e Marketplace portal that have opened great opportunities for efficiency, transparency and seamlessness in the benefit of the public.

The various services procurement through the GeM portal is the main reason behind the strengthening the Gross Merchandise Value. Among the total value of Gross Merchandise Value,  around 50% has been attributed to the services procurement. If we compare it to last year’s data, there is an increase of around 205 percent in terms of services procurement through the GeM portal.

The strong state involvement has also mobilized the growth of the Gross Merchandise Value. Gujarat, Uttar Pradesh and Delhi are the top procuring states In this fiscal year. Increased engagement of various Government entities such as Ministry of Coal, Ministry of Power and Ministry of Petroleum & Natural Gas and their subsidiaries has contributed to around 85 percent of this ₹4 lakh crore Gross Merchandise Value.

Important data:

There are more than around 1.5 lakh Government buyers and 21 lakh sellers and service Providers registered in Government e Marketplace portal. Around 89421 panchayats have been integrated by the portal and around 760 plus cooperatives are there. Along with that the Government e Marketplace portal offers more than 12070 product categories and more than 320 service categories.

Conclusion:

This is a landmark achievement of the Government e Marketplace portal. In 2016,the Gross Merchandise Value was around ₹422 crore which has now increased to ₹4 lakh crore milestone in this fiscal year.

Important Questions:

• What is the Government e Marketplace portal?
• What are the reason behind the achieved milestone of ₹4 lakh crore Gross Merchandise Value of GeM portal?

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