+
 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
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?