Public procurement through GeM portal crosses Rs 3 trn so far this fiscal

The government's procurement through the Government e-Marketplace (GeM) portal has crossed Rs 3 lakh crore so far this financial year, an official said.

Higher buying activities by various ministries and departments have helped in reaching the figure, the official said.

In 2023-24, the portal handled procurement of Rs 4 lakh crore by government departments of centres and states and public sector enterprises.

The Government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all central government ministries and departments.

In October, the GeM signed the memorandum of understanding (MoU) with Sikkim to facilitate procurement by the state on the platform.

"That covers all the states under the GeM," the official said.

Apart from large government agencies, GeM has also onboarded panchayats and cooperatives.

The procurement by central organisations on the portal in October stood at around Rs 30,264 crore.

The official said that since inception more than 9.7 lakh micro, small and medium enterprises have registered on GeM, receiving orders of over Rs 4.19 lakh crore or around 40 per cent of the total.

South Korea's KONEPS is the largest such platform in the world. GeM stands at the second position. It is followed by Singapore's GeBIZ.