Government e-Marketplace (GeM) procurement crosses Rs. 4 lakh crore (US$ 46.31 billion) during April-January period of FY25

The procurement of goods and services through the Government e-Marketplace (GeM) portal has experienced a significant increase, rising by about 50% to over Rs. 4 lakh crore (US$ 46.31 billion) during the April-January period of FY25. GeM, launched on August 9, 2016, facilitates online purchases for all central government ministries and departments. As of January 23, 2024, the portal has recorded a Gross Merchandise Value (GMV) of Rs. 4.09 lakh crore (US$ 47.35 billion), surpassing last year's historic high. The services segment accounted for Rs. 2.54 lakh crore (US$ 29.40 billion), while product procurement amounted to Rs. 1.55 lakh crore (US$ 17.94 billion). In 2024-25, 19 new service categories have been introduced to expand the range of offerings. 

Key ministries, including the Ministry of Coal, Ministry of Defence, Ministry of Petroleum and Natural Gas, Ministry of Power, and Ministry of Steel, have emerged as the top procurers on GeM. The Ministry of Coal, in particular, has led the procurement with nearly Rs. 1.63 lakh crore (US$ 18.87 billion) in transactions, including more than 320 high-value bids for Handling and Transport Services. The platform currently hosts over 1.6 lakh government buyers and more than 22.5 lakh sellers and service providers, significantly improving efficiency in government procurement by sourcing from reliable vendors. 

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