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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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