GeM Surpasses Rs 5 Trillion GMV Ahead of FY 2024-25 Close

18 Mar 2025 CW Team

The Government e-Marketplace (GeM) has crossed Rs 5 trillion in Gross Merchandise Value (GMV), achieving this milestone over 18 days before the financial year 2024-25 ends. This marks GeM’s continued growth as a key public procurement platform, serving more than 160,000 government buyers. The jump from Rs 4 trillion to Rs 5 trillion took less than 50 days, following the previous milestone on January 23, 2025. Recent policy reforms have made GeM more accessible for sellers, particularly Micro and Small Enterprises (MSEs), startups, and women-led businesses. Measures such as reduced transaction charges, lower vendor assessment fees, and relaxed caution money requirements have encouraged wider participation. As of February 13, 2025, over 2.2 million sellers and service providers are registered on GeM, strengthening a diverse and competitive procurement landscape. The sixth anniversary of SWAYATT (Startups, Women, and Youth Advantage Through e-Transactions) further highlights GeM’s efforts to integrate priority seller groups into government procurement. Over 29,000 startups and 180,000 Udyam-verified women-led businesses have joined the platform, enhancing inclusivity and economic empowerment. Technology advancements have significantly improved procurement efficiency. In FY 2024-25, GeM executed one of India’s largest government cloud migrations, ensuring greater scalability, security, and reliability. AI-powered search capabilities through GeM AI have also enhanced decision-making, providing real-time procurement insights. With a strong focus on transparency and cost efficiency, GeM has facilitated public savings exceeding Rs 1.15 trillion. The platform's registered buyers include central and state ministries, public sector enterprises, panchayats, and cooperatives, driving the adoption of digital procurement nationwide. As GeM expands, it remains committed to innovation, inclusivity, and strengthening market linkages. By leveraging technology and transparency, it continues to play a crucial role in India's public procurement ecosystem and economic growth. (PIB)

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