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)

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..