Government e Marketplace (GeM) achieves Rs 2 lakh cr GMV in FY 2022-23

Guwahati: Government e Marketplace (GeM) has achieved Gross Merchandise Value (GMV) of Rs 2 lakh crore in the fiscal year 2022-23.

Cumulatively, GeM has surpassed the Rs 3.9 lakh crore GMV since inception. The total number of transactions on GeM has also crossed 1.47 crore.

The platform enables multiple procurement modes like direct purchase, L1 procurement, bidding, reverse auction, and bid followed by reverse auction.

GeM is catering to the diverse procurement needs of over 67,000 government buyer organisations. The portal features over 11,700 product categories with more than 32 lakh listed products, as well as over 280 service categories with more than 2.8 lakh service offerings.

Based on various studies, the minimum savings on the platform are about 10%, which translates into a savings of Rs 40,000 crore worth of public money.

CEO GeM, P.K. Singh, thanked all the stakeholders who are the primary drivers behind GeM's reaching such great heights.

Through automation and digitization of processes, GeM has led to higher process efficiencies, better information sharing, improved transparency, reduced process cycle times, and a higher level of trust among bidders. These innovations in GeM have also brought down waiting times and prices for buyers significantly and ensured timely payments to sellers, Singh added.

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