Government e-Marketplace registered highest ever GMV of more than Rs 2 lakh crore – Times of India

Government e-Marketplace registered highest ever GMV of more than Rs 2 lakh crore - Times of India

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The Government e-marketplace (GeM) registered its highest-ever Gross Merchandise Value of Rs 2,01,113 crore during the financial year 2022-23. GeM aims to bring transparency, efficiency, and fairness to the Government procurement process. It benefits stakeholders in several ways, allowing them to participate in a fair and equitable manner. According to the government, it helps encourage fair and equitable participation from all stakeholders in the Government procurement process, fostering a competitive and efficient marketplace. It enhances transparency, promotes inclusivity, and ensures that the best products and services are procured at the most competitive prices for the Government.

Earlier this year, the Minister of State in the Ministry of Commerce and Industry Anupriya Patel said in a reply to a parliamentary question that there are 13,18,192 sellers who have registered themselves in the Government e-Marketplace (GeM) to enable them to sell their products directly to various Government departments and organisations.
What is a GeM

There is no definition of an active supplier on GeM. Registered suppliers decide to participate in any bid depending on their interest, availability of products and other factors. All the registered sellers have equal opportunity to participate in the marketplace and bids. Successful award of an order is contingent on the requirement given by the buyer and the ability of the seller to meet the requirement by offering the most competitive price.
GeM is claimed to have achieved a cumulative GMV of more than 4.5 lakh crore until 23 July 2023 (since inception). Hence, considering the saving estimates as reported above, GeM has facilitated savings worth more than Rs 40,000 crore since its start.



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