Alternative investment platform

Summary:

The Government e-Marketplace (GeM) platform saw a 50% increase in procurement, reaching over Rs. 4 lakh crore (US$ 46.31 billion) between April and January of FY25. Launched on August 9, 2016, GeM simplifies online transactions for central ministries and departments. By January 23, 2024, it had surpassed the previous year's GMV record, with services accounting for Rs. 2.54 lakh crore and goods for Rs. 1.55 lakh crore. Fiscal Year 25 saw the addition of 19 new service categories.

 

Top GeM procurers include the Ministries of Coal, Defence, Petroleum, Power, and Steel. The Ministry of Coal leads with deals worth roughly Rs. 1.63 lakh crore (US$ 18.87 billion), including over 320 high-value bids for Handling and Transport Services. GeM now serves over 1.6 lakh government buyers and 22.5 lakh sellers, enhancing government procurement efficiency by sourcing from reputable suppliers.

 

Source: IBEF

 

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