Purchases via GeM portal exceed Rs 1 trillion so far in FY23 | The Financial Express

Purchases via GeM portal exceed Rs 1 trillion so far in FY23

The public procurement through GeM stood at Rs 1.07 trillion in the entire FY22.

Purchases via GeM portal exceed Rs 1 trillion so far in FY23
Purchases through the portal had breached the Rs 1-trillion mark in as many as four-and-a-half years.

Purchases of goods and services through the Government e-Marketplace (GeM) portal have exceeded Rs 1 trillion so far this fiscal, setting a fresh record on greater adoption of the online marketplace by central government ministries, departments, states and public-sector enterprises.

The public procurement through GeM stood at Rs 1.07 trillion in the entire FY22. Before that, purchases through the portal had breached the Rs 1-trillion mark in as many as four-and-a-half years.

GeM chief executive PK Singh said, “Our target for this fiscal was Rs 1.5 trillion but going by the trend we may reach Rs 1.80 trillion.” Gujarat, Uttar Pradesh, Maharashtra and Madhya Pradesh were the leading states that have scaled up purchases through GeM.

Also read: FMCG in turbulent times: A vision for using AI to manage uncertainty

The GeM portal was launched in August 2016, as the Centre wanted to improve transparency in purchases of various goods and services by all the central government ministries, departments and public-sector firms and state governments, apart from providing a new-age platform for official procurement. While buyers are official entities, sellers – ranging from small business to large companies – are from both public and private sectors.

In July, the government also asked all its ministries and departments and central public-sector enterprises (CPSEs) to undertake all purchases through the GeM by the end of this fiscal. This directive has also contributed to the rise in procurement.

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First published on: 30-11-2022 at 03:30:00 am
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