New Delhi [India], February 8 (ANI): Chief Executive Officer of Government e-Marketplace (GeM) PK Singh on Wednesday said that the public procurement portal is suitably placed to exceed its ambitious target of Rs 1.75 lakh crore.
Addressing a press briefing Singh said on February 1, 2023, GeM has achieved a staggering Rs 1.5 lakh crore of Gross Merchandise Value (GMV) in FY23 alone. Cumulatively, GeM has surpassed Rs 3 lakh crore GMV since its inception, with the overwhelming support of its stakeholders.
He also said that the total number of transactions on GeM has also crossed 1.3 crore.
GeM has over 66,000 government buyer organisations and more than 58 lakh sellers and service providers offering a diverse range of goods and services.
The portal features over 11,000 product categories with more than 29 lakh listed products, as well as over 270 service categories with more than 2.5 lakh service offerings.
Based on various studies, the minimum savings on the platform are about 10 per cent which translates into a savings of over Rs 30,000 crore worth of public money.
While sharing the journey and vision ahead for GeM, Singh also thanked all the stakeholders.
Government e-Marketplace (GeM) is an online platform for public procurement in India that was envisaged by Prime Minister Narendra Modi. The initiative was launched on August 9, 2016, by the Ministry of Commerce and Industry with the objective of creating an inclusive, efficient, and transparent platform for buyers and sellers to carry out procurement activities in a fair and competitive manner.
In the last 6.5 years, GeM has revolutionized the ecosystem of public procurement in the country through technology, the digitization of processes, the digital integration of all stakeholders, and the use of analytics. (ANI)