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