Government e-Marketplace (GeM) has experienced remarkable growth in procurement over the past three years, according to Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal. Speaking at the 'Kreta-Vikreta Gaurav Samman Samaroh 2023' event organized by GeM in New Delhi, the Minister commended all the stakeholders for their role as change catalysts.
Piyush Goyal applauded the awardees for their contributions, acknowledging the transformative impact they have made on the public procurement landscape. GeM, in alignment with Prime Minister Narendra Modi's vision, strives to establish a unified, transparent, and efficient procurement system by leveraging technology and analytics. Over the past seven years, GeM has achieved significant growth and harnessed the benefits of scale.
The Minister emphasized that the increased utilization of GeM by Central and State Departments for procuring goods and services has resulted in substantial savings of taxpayers' money. These savings can now be better allocated to public welfare projects. Piyush Goyal expressed hope that the procurement of goods and services from GeM will surpass Rs 3 lakh Crore in the fiscal year 2022-23, having already exceeded Rs 2 lakh crore in 2021-22.
Goyal highlighted the Ministry of Commerce and Industry's continuous efforts to improve the system. GeM is developing a new contemporary and modern system that will enhance operational ease. The new system will incorporate data analytics to assist buyers and sellers in making informed procurement decisions. Goyal announced that Tata Consultancy Services (TCS), India's largest software exporter, has been awarded the contract for running and maintaining the GeM portal.
The award ceremony was graced by Union Minister of State for Commerce and Industry, Anupriya Patel, CEO of GeM, P.K. Singh, government officials, and industry dignitaries. During the ceremony, Piyush Goyal and Anupriya Patel felicitated the winners.
The 'Kreta-Vikreta Gaurav Samman Samaroh 2023' event organized by GeM aimed to recognize the exceptional performance of government buyers and sellers in the public procurement process. This buyer-seller award ceremony serves as an initiative by GeM to acknowledge those who have effectively utilized the platform for procurement in the fiscal year 2022-23. GeM, established in 2016, has revolutionized government procurement in India.
The platform was designed to bring about a significant shift in the country's public procurement landscape. It has introduced transparency, efficiency, and cost-effectiveness, making it easier for buyers to procure goods and services from sellers across the nation. As of March 31, 2023, GeM achieved an astounding Gross Merchandise Value (GMV) of Rs 2 lakh crore in the fiscal year 2022-23 alone. Since its inception, GeM has cumulatively surpassed Rs 4.29 lakh crore in GMV, demonstrating the overwhelming support from its stakeholders.
The platform has facilitated over 1.54 crore transactions and caters to the procurement needs of more than 69,000 government buyer organizations. With over 11,800+ product categories and 280+ service categories, GeM offers a comprehensive range of options. Studies indicate that the platform provides minimum savings of approximately 10%, equivalent to around Rs 40,000 crore of public funds.
