Indian Economy News

Ministry of Coal takes the lead as the top procurer on the Government e-Marketplace (GeM)

The Ministry of Coal (MoC) is ensuring complete transparency, timely decision-making, and faster planning to achieve an ambitious goal of coal production of above 1 billion tonnes this year.

As of September 14, 2023, the purchase through Government e-Marketplace (GeM) had impressively achieved a staggering Rs. 23,798 crore (US$ 2.86 billion). With this accomplishment, the Ministry of Coal has already surpassed its Rs. 21,325 crore (US$ 2.56 billion) annual target for FY24 in the first two months alone. The aim set for the Ministry of Coal including its Central Public Sector Enterprises (CPSEs), for purchasing goods and services through GeM in FY23 was Rs. 4,000 Crore (US$ 481.1 million). The actual achievement was higher than this goal, coming in at Rs. 4,278 crore (US$ 514.6 million), or a 107% success rate.

The tight collaboration between the GeM team and the Coal India Limited (CIL) procurement team to overcome technological issues has enabled this exceptional performance.

Coal India Limited. and its subsidiaries have played a significant role in procurement on GeM by contributing Rs. 23,363 crore (US$ 2.81 billion) as of September 14, 2023, which is 17% more than its actual target for FY24. With this achievement, Coal India Limited has become the leading CPSE in the country in GeM procurement.

With the adoption of digitisation, GeM aims to modernize the existing tendering procedure and improve integrity and openness in public procurement. The Ministry of Coal (MoC), which was established seven years ago, has remained committed to this drive for digital transformation.

GeM's effectiveness and efficiency in facilitating transparent and successful procurement processes are highlighted by the Ministry of Coal's (MoC) significant procurement accomplishments. GeM has been widely adopted by several CPSEs within the Ministry of Coal, which highlights its success in streamlining and enhancing the overall procurement environment.

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