GeM Portal Boosts Micro-Businesses
ECONOMY & POLICY

GeM Portal Boosts Micro-Businesses

Micro and small enterprises are making substantial gains through the Government e-Market (GeM) portal, with an expected turnover exceeding $20 billion by the fiscal year-end. GeM, launched on August 9, 2016, serves as a platform for central government ministries and departments to procure goods and services online.

According to GeM CEO P K Singh, the platform actively supports these enterprises, enabling their increased participation in government procurement. Over the years, micro and small enterprises have accounted for 50% of total procurement on the platform, with procurement figures surging from $5 million in 2016-17 to $5 billion in 2020-21. This fiscal year, the procurement is expected to exceed $20 billion.

Furthermore, GeM offers valuable business intelligence and data analytics services to ensure that firms receive correct, relevant, and timely information. GeM boasts a vast network, with over 63,000 government buyer organisations and more than 6.2 million sellers and service providers offering a diverse array of products and services.

The total procurement of goods and services through the platform has surpassed Rs 2 trillion in the current fiscal year. GeM is open to government departments, ministries, public sector units, state governments, and central armed police forces. It provides a wide spectrum of products, from office stationery to vehicles, with major product categories including automobiles, computers, and office furniture.

The portal also encompasses services such as transportation, logistics, waste management, webcasting, and analytics. While GeM ranks third globally among such platforms, it continues to be a vital resource for micro and small enterprises, empowering them in the government procurement landscape.

Micro and small enterprises are making substantial gains through the Government e-Market (GeM) portal, with an expected turnover exceeding $20 billion by the fiscal year-end. GeM, launched on August 9, 2016, serves as a platform for central government ministries and departments to procure goods and services online. According to GeM CEO P K Singh, the platform actively supports these enterprises, enabling their increased participation in government procurement. Over the years, micro and small enterprises have accounted for 50% of total procurement on the platform, with procurement figures surging from $5 million in 2016-17 to $5 billion in 2020-21. This fiscal year, the procurement is expected to exceed $20 billion. Furthermore, GeM offers valuable business intelligence and data analytics services to ensure that firms receive correct, relevant, and timely information. GeM boasts a vast network, with over 63,000 government buyer organisations and more than 6.2 million sellers and service providers offering a diverse array of products and services. The total procurement of goods and services through the platform has surpassed Rs 2 trillion in the current fiscal year. GeM is open to government departments, ministries, public sector units, state governments, and central armed police forces. It provides a wide spectrum of products, from office stationery to vehicles, with major product categories including automobiles, computers, and office furniture. The portal also encompasses services such as transportation, logistics, waste management, webcasting, and analytics. While GeM ranks third globally among such platforms, it continues to be a vital resource for micro and small enterprises, empowering them in the government procurement landscape.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement