'Eyeing Rs 3-4 lakh cr of public procurement through GeM platform in 2-3 yrs'

Public procurement worth Rs 3-4 lakh crore is expected to take place through the commerce ministry's online marketplace in the next 2-3 years, an official said today.

At present, online platform Government e-marketplace (GeM) has crossed Rs 10,800 crore mark in terms of value of transactions.

The ministry launched the GeM in August 2016 with the objective of creating an open and transparent procurement platform for government agencies.

GeM Chief Executive Officer Radha Chauhan said that besides different central ministries, state governments and public sector units are procuring goods and services from this platform.

Going by the pace, she said that the marketplace would give good competition to other global online players like Flipkart and Amazon in the coming years.

"We are eyeing Rs 3-4 lakh crore of public procurement through GeM in 2-3 years," she told reporters here.

GeM is claiming it has the potential to cover fiscal deficit in the next 4-5 years as government departments and PSUs are saving tax payers money by procuring goods and services from this platform.

In the long term, she said, procurement may reach Rs 7-8 lakh crore through GeM.

Chauhan also said that they are launching a national mission on GeM from September 6.

The six weeks programme aims at accelerating the adoption and use of this platform by central and state governments and their agencies.

As many as 135,000 sellers are offering 4,43,800 products on this platform.