GeM reaches procurement of Rs 1 lakh cr in 2021-22
ECONOMY & POLICY

GeM reaches procurement of Rs 1 lakh cr in 2021-22

Government e-Marketplace (GeM), an online platform for public procurement in India launched in 2016, has enabled the procurement of Rs 1 lakh crore within 2021-22, 160% higher as against last fiscal.

On Thursday, Prime Minister Narendra Modi told the media that the GeM platform is authorising the Ministry of Micro, Small and Medium Enterprises (MSMEs), with 57% of order value coming from small businesses.

Prashant Kumar Singh, CEO, GeM, told the media that the central public sector enterprises (CPSE) acquired goods and services worth about Rs 43,000 crore on GeM, showing an approximate increase of 508% as against last fiscal. He added that states continued to be vital stakeholders with approximately 30% contribution to total GMV.

He said that the Defence Ministry is of the highest procurers on GeM, while public sector undertakings (PSU) form about 25% of the total acquisition on the platform. Singh said that the integration of the marketplace and India Post is in advanced stages and is likely to achieve in the coming two months.

Regarding the progress on bringing works procurement under the ambit of GeM, Singh told the media that making the procurement of works through GeM compulsory is in the discussion, and the government will take a call on it. They stand ready to open it for work and all sectors and ministries.

Image Source

Also read: PM Gati Shakti to rely heavily on public-private partnerships

Government e-Marketplace (GeM), an online platform for public procurement in India launched in 2016, has enabled the procurement of Rs 1 lakh crore within 2021-22, 160% higher as against last fiscal. On Thursday, Prime Minister Narendra Modi told the media that the GeM platform is authorising the Ministry of Micro, Small and Medium Enterprises (MSMEs), with 57% of order value coming from small businesses. Prashant Kumar Singh, CEO, GeM, told the media that the central public sector enterprises (CPSE) acquired goods and services worth about Rs 43,000 crore on GeM, showing an approximate increase of 508% as against last fiscal. He added that states continued to be vital stakeholders with approximately 30% contribution to total GMV. He said that the Defence Ministry is of the highest procurers on GeM, while public sector undertakings (PSU) form about 25% of the total acquisition on the platform. Singh said that the integration of the marketplace and India Post is in advanced stages and is likely to achieve in the coming two months. Regarding the progress on bringing works procurement under the ambit of GeM, Singh told the media that making the procurement of works through GeM compulsory is in the discussion, and the government will take a call on it. They stand ready to open it for work and all sectors and ministries. Image Source Also read: PM Gati Shakti to rely heavily on public-private partnerships

Next Story
Infrastructure Transport

Mumbai Unveils Two New ROBs to Ease Traffic Congestion

Maharashtra Chief Minister Devendra Fadnavis on Tuesday inaugurated two key road overbridge (ROB) projects in Mumbai and its outskirts, aimed at easing traffic congestion and improving east–west connectivity in high-density urban areas.The Rs 2.73 billion Reay Road cable-stayed bridge and the Rs 1 billion Titwala ROB in the Kalyan-Dombivli region were both developed by the Maharashtra Rail Infrastructure Development Corporation (MahaRail). While the Reay Road bridge was opened in person, the Titwala bridge was inaugurated virtually at the same event.The Reay Road ROB, spanning 385 metres, is..

Next Story
Infrastructure Transport

Pimpri-Chinchwad to Widen NH-48 Service Roads to 24m

Pimpri-Chinchwad is set for a major urban infrastructure boost as the Pimpri Chinchwad Municipal Corporation (PCMC) and the National Highways Authority of India (NHAI) collaborate to widen service roads along National Highway 48 within the city limits.A recent high-level review meeting, chaired by PCMC Commissioner Shekhar Singh and attended by senior NHAI officials, was held to fast-track the project aimed at easing traffic congestion and improving vehicular flow in the industrial city.At present, the NH-48 service roads are 12 metres wide. The approved plan will double their width to 24 metr..

Next Story
Infrastructure Transport

Kochi’s Edappally Junction Gets Twin Flyovers, Underpasses

The National Highways Authority of India (NHAI) has commenced construction of two flyovers-cum-underpasses at either end of Kochi’s heavily congested Edappally junction. The development is expected to significantly ease traffic bottlenecks and reduce travel time for thousands of commuters who pass through this key intersection daily.The project involves building two 650-metre-long flyovers, each incorporating a 50-metre-wide underpass. One is located near Oberon Mall to the south, while the other is near LuLu Mall to the north—just a few hundred metres from the existing Edappally flyover a..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?