On Tuesday, after the Government e-Marketplace, an online platform for public procurement in India reached Rs 1 lakh crore in Gross Merchandise Value (GMV), Prime Minister Narendra Modi praised the vendors for listing their goods on GeM.
He added that it was indeed a great achievement that GMV of the GeM platform has reached Rs 1 lakh crore as on November 29, for the fiscal year 2022–2023.
Replying to Union Minister Piyush Goyal, PM Modi tweeted, "Excellent news! @GeM_India is a game changer when it comes to showcasing India’s entrepreneurial zeal and furthering transparency. I laud all those who are displaying their products on this platform and urge others to do the same."
Excellent news! @GeM_India is a game changer when it comes to showcasing India’s entrepreneurial zeal and furthering transparency. I laud all those who are displaying their products on this platform and urge others to do the same. https://t.co/O2gioaxxrL
— Narendra Modi (@narendramodi) November 29, 2022
According to GeM CEO PK Singh, the platform's cumulative GMV has topped Rs 3 lakh crore since its inception, while the platform's total number of transactions just surpassed 1.2 crore.
With over 54 lakh vendors and service providers and more than 63,000 government buyer organizations, GeM (or e-Marketplace) offers a wide range of goods and services.
Piyush Goyal, minister of commerce and industry, also examined GeM's development and praised the group for its successes.
GeM recently began a targeted drive to increase state-based procurement. For a few states, committed nodal officers have been selected with thorough data-backed roadmaps. Later, the nation as a whole will use the lessons discovered in these states.
Additionally, GeM has started its One District One Product (ODOP) campaign to promote specially selected goods from different districts around the nation. Invest India and the department for the promotion of industry and internal commerce have helped build more than 200 ODOP categories on GeM, which are being filled with vendors and catalogues (DPIIT).
Moreover, GeM has made substantial efforts to ensure that the cooperatives are integrated into the platform gradually in accordance with the Union Cabinet's decision to permit cooperative societies to purchase products and services.
GeM is offering the necessary assistance for signing up and activating their GeM pool accounts. Through the GeM platform, the cooperative societies will have direct access to more than 54 lakh vendors and service providers around the nation. Using GeM's conventional procurement methods would also save time and money on administrative expenditures.
For the not known, the Ministry of Commerce and Industry launched GeM on August 9, 2016, with the goal of building an open and transparent platform for government buyers. The three pillars of the portal - inclusion, transparency, and efficiency have contributed in revolutionizing the public procurement in India.
