Indian Economy News

8.5 lakh micro and small sellers on GeM secured business worth nearly US$ 23 billion (Rs. 2 lakh crore), says CEO

  • IBEF
  • March 3, 2023

Government e-Marketplace (GeM), the government's online marketplace, reported that it had over 8.5 lakh registered micro and small businesses (MSEs) that had received over 68 lakh orders totalling more than US$ 23 billion (Rs 1.87 lakh crores), the Chief Executive Officer (CEO), Mr. Prashant Kumar Singh said.

In addition, he noted that more than 1.45 lakh women MSEs have fulfilled 7.32 lakh orders worth US$ 1.92 billion (Rs. 15,922 crores) and roughly 43,000 SC/ST MSEs have delivered more than 1.35 lakh orders totalling US$ 313 million (Rs. 2,592 crores) so far. He was speaking at an event to commemorate the success of SWAYATT initiative launched in February, 2019 to promote ‘Start-ups, Women and Youth Advantage Through eTransactions’ on the portal.

GeM had hit US$ 13 billion (Rs. 1.06 lakh crores) turnover in FY22 and is looking to double it in the current fiscal.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.