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Procurement Through Government e Marketplace (GeM)

December 15, 2023

GS Paper III Indian Economy

Context: Procurement of goods and services through the Government e Marketplace (GeM) is expected to reach Rs 3.5 lakh crore by the end of this fiscal year.

More About the news:

Increase in procurement: This is driven by increased purchasing activities across various Ministries and Departments.
Procurement by Central Public Sector Enterprises (CPSE): It contributes to nearly 63% of its total Gross Merchandise Value (GMV).
- The purchase by CPSEs on GeM accounted for almost 63% of the entire procurement.
- In 2023–24, CPSE procurement exceeded Rs 1 lakh crore in just 6.5 months.

About Government e Marketplace (GeM)

About: GeM is a one stop portal to facilitate online procurement of common use Goods & Services required by various Government Departments / Organizations / PSUs.
Aim: Launched in 2016, it aims to enhance transparency, efficiency and speed in public procurement.
Nodal Ministry: Ministry of Commerce
Mandatory Purchase by Government Entities: The purchases through GeM by Government users have been authorized and made mandatory by the Ministry of Finance.

News Source: Economic times

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