GeM portal services procurement to reach Rs 1.5 trillion
ECONOMY & POLICY

GeM portal services procurement to reach Rs 1.5 trillion

The procurement of services from the Government e-Market (GeM) portal is anticipated to reach Rs 1.5 trillion this fiscal year. This increase is attributed to higher purchases made by various ministries and departments within the government. The GeM portal, established on August 9, 2016, facilitates online acquisitions of goods and services for all central government ministries and departments.

According to GeM CEO P K Singh, the services procurement amount was merely Rs 30.69 billion in 2019-20, but it surged to Rs 659.57 billion in 2022-23. For the current fiscal year, it is anticipated to reach Rs 1.5 trillion. Singh mentioned that prominent buyers of services include Central Public Sector Enterprises (CPSEs) like Coal India, NTPC, and ONGC. Additionally, various states such as Gujarat, Uttar Pradesh, Delhi, Uttarakhand, Punjab, and Nagaland, along with central ministries like coal, power, defence, and finance, are active participants in service procurement.

The primary service categories in demand comprise manpower outsourcing, vehicle hiring, mine development and operations, handling, transport, and other mining services, insurance, IT, and medical services. Notably, subsidiaries of Coal India have placed 175 orders with a total value of Rs 245.58 billion for handling, transport, and other mining activities.

The procurement of services from the Government e-Market (GeM) portal is anticipated to reach Rs 1.5 trillion this fiscal year. This increase is attributed to higher purchases made by various ministries and departments within the government. The GeM portal, established on August 9, 2016, facilitates online acquisitions of goods and services for all central government ministries and departments. According to GeM CEO P K Singh, the services procurement amount was merely Rs 30.69 billion in 2019-20, but it surged to Rs 659.57 billion in 2022-23. For the current fiscal year, it is anticipated to reach Rs 1.5 trillion. Singh mentioned that prominent buyers of services include Central Public Sector Enterprises (CPSEs) like Coal India, NTPC, and ONGC. Additionally, various states such as Gujarat, Uttar Pradesh, Delhi, Uttarakhand, Punjab, and Nagaland, along with central ministries like coal, power, defence, and finance, are active participants in service procurement. The primary service categories in demand comprise manpower outsourcing, vehicle hiring, mine development and operations, handling, transport, and other mining services, insurance, IT, and medical services. Notably, subsidiaries of Coal India have placed 175 orders with a total value of Rs 245.58 billion for handling, transport, and other mining activities.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code