GeM reaches Rs 1 lakh crore gross merchandise value in FY23 alone

GeM has over 63,000 government buyer organisations as well as over 54 lakh sellers and service providers.

   
Govt e-marketplace GeM

Government e-Marketplace (GeM), an online platform for public procurement in India, has achieved a staggering Rs 1 lakh crore of gross merchandise value (GMV) in the financial year 2022-23 (FY23) alone.

Cumulatively, GeM has surpassed the Rs 3 lakh crore GMV since inception, and the total number of transactions on the Government e-Marketplace also recently surpassed 1.2 crores, according to GeM CEO, PK Singh. The government e-Marketplace has over 63,000 government buyer organizations as well as over 54 lakh sellers and service providers, offering a wide range of products and services.

Commerce and Industries Minister Piyush Goyal also reviewed the progress of the Government e-Marketplace and congratulated the team on its achievements. Singh said, “We will exceed the target of Rs 1.5 lakh crore this financial year. GeM is also expected to surpass Amazon-Flipkart by the end of this financial year. 2021-22 annual GMV of GeM is around USD 14.2 bn. In 2021-22 private e-market player Flipkart has a GMV of USD 23 bn and Amazon has a GMV of USD 17 bn.”

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“If we see a number of transactions on global public e-procurement portals, GeM is number one but by value, GeM is number three after KONEPS of South Korea and GeBIZ of Singapore,” he added. He further informed, “Rs 8,800-11,500-crore savings are estimated in FY21-22. We have more than 8 lakh MSME sellers and service providers on GeM and 1.2 lakh women sellers entrepreneurs on GeM.”

Singh stated, “Government e-Marketplace has an average order value per day of Rs 410 crore. “An average number of the order on GeM is more than 10,000. Gujarat, Uttar Pradesh, Maharashtra and Madhya Pradesh are the top 4 largest procurers on GeM,” the CEO said.

“Government e-Marketplace has over 63,000 government buyer organisations as well as over 54 lakh sellers and service providers offering a wide range of products and services,” he said.

GeM has already seen a 55 per cent year-on-year increase in the GMV in the states, and their GeM Utilization Ratio (GUR) has also shown considerable improvement, according to the CEO.

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It has also launched the One District One Product (ODOP) initiative to provide impetus to the specially-curated products from various districts in the country. More than 200 ODOP categories have been created on GeM, which is being populated with sellers and catalogues with assistance from Invest India and the department for the promotion of industry and internal trade (DPIIT).

In line with the Union Cabinet’s decision to enable procurement of goods and services for cooperative societies, the Government e-Marketplace has taken significant strides in ensuring that the cooperatives are onboarded onto the platform in a phased manner.