The Government e-Marketplace (GeM) has achieved a significant milestone, surpassing ₹2 Lakh Crore in Gross Merchandise Value (GMV) within the first eight months of the current fiscal year. This figure exceeds the total GMV recorded at the end of the last fiscal year (2022-23), with the average GMV per day now exceeding ₹850 crore.
Central Public Sector Enterprises (CPSEs) have played a crucial role in this achievement, contributing 83% to the total GMV. State Governments, adding the remaining 17%, have also actively participated, with states like Uttar Pradesh, Gujarat, Maharashtra, Delhi, Madhya Pradesh, Jammu & Kashmir, Odisha, Bihar, Assam, and Uttarakhand placing substantial orders.
GeM’s expansion into the services sector has been a key driver of its growth. The order value in services has seen exponential growth over the last three years, now accounting for nearly 46% of the total order value, up from 23% in FY 21-22. The platform’s catalogue boasts nearly 312 service categories and more than 11,800 product categories, supporting its role in transforming public procurement across India. Since its inception, GeM’s total GMV has exceeded ₹5.93 lakh crore, with total transactions crossing 1.8 crore.
GeM’s integration with e-Gram Swaraj, aimed at enhancing Panchayat-level procurement, highlights its commitment to inclusivity and accessibility. This approach connects with last-mile sellers and optimizes costs at the grassroots level. The platform has been particularly supportive of marginalized seller segments like small and medium enterprises (MSEs), women entrepreneurs, startups, and artisans. Nearly 49% of the total order value transacted through GeM has been awarded to MSEs, with over 45,000 MSEs registered in just 7 months.
GeM’s focus on cost savings has been significant, with the government saving over ₹45,000 crore since 2016. According to the Economic Survey 2021-22, GeM’s prices were 9.5% lower than other online platforms for 10 out of 22 commodities examined. As it continues to grow, GeM remains pivotal in India’s digital transformation and the “Make in India” initiative, endorsing domestically manufactured products and services.
