Ease of doing business for MSMEs: Public procurement portal for MSMEs to sell goods directly to the government departments and public enterprises Government e-Marketplace (GeM) has registered 88 per cent growth in its gross merchandise value (GMV) or order value in the financial year 2022-23. The GMV reached an all-time high of Rs 2 lakh crore from Rs 1.06 lakh crore in FY22. Hailing GeM’s growth, Prime minister Narendra Modi tweeted on Friday, “Excellent! @GeM_India has given us a glimpse of the energy and enterprise of the people of India. It has ensured prosperity and better markets for many citizens.”
The FY23 GMV was tweeted by commerce minister Piyush Goyal on Friday. GeM’s cumulative GMV, since its launch in August 2016, stood at Rs 3.93 lakh crore, as per available data on its website.
GMV is referred to the total value of goods sold, usually through an e-commerce channel over a certain duration.
Also read: Defence ministry top buyer of MSME goods in 2022: GeM
According to the data shared by Anupriya Patel, minister of state in the commerce ministry in the Lok Sabha on March 29 in a written reply to a question, MSMEs sold goods worth Rs 422.02 crore in FY17, Rs 5,876.53 crore in FY18, Rs 17,461.61 crore in FY19, Rs 22,916 crore in FY20 and Rs 38,570 crore in FY21.
Moreover, the number of sellers including MSMEs registered on GeM has also crossed the 60-lakh mark from 50 lakh sellers as of August 2022, adding 10 lakh sellers in around seven months.
Importantly, GeM is integrated with the government’s Udyam registration portal. MSMEs registering on GeM are provided with an option for simultaneous automatic registration on the GeM portal. However, the number of active sellers on the GeM portal cannot be ascertained.
Also read: Govt’s GeM portal to help MSMEs get back penalty amount levied for failure to execute contracts
“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,” Goyal had said in December last year in the Rajya Sabha responding to a question on the number of suppliers who have actively participated in trade activities on the portal out of the total registered.
The order volume also increased from 33.16 lakh in FY22 to 46.79 lakh as of March 20 in FY23 vis-a-vis 6,284 in FY17, 3.72 lakh in FY18, 13.33 lakh in FY19, 21.81 lakh in FY20, and 25.75 lakh in FY21, data shared by Patel showed.
Subscribe to Financial Express SME (FE Aspire) newsletter now: Your weekly dose of news, views, and updates from the world of micro, small, and medium enterprises