Gross Turnover at GeM Portal Crosses Rs 1 Lakh Cr In 145 days

New Delhi, Aug 24 (KNN) Government e-Marketplace (GeM) has achieved Rs 1 lakh crore in Gross Merchandise Value (GMV) within a span of 145 days in the current financial year, said the Ministry of Commerce & Industry in a statement on Wednesday.

The government with this feat highlights GeM's commitment to revolutionizing government procurement.

“It signifies a substantial improvement compared to the previous year, where this GMV landmark was reached in 243 days,” said the Ministry.

The average GMV per day has also witnessed significant growth from Rs 412 crore per day in FY 22-23 to Rs 690 crore per day in FY 23-24.

Since inception, GeM has crossed Rs 4.91 lakh crore in GMV and has facilitated over 1.67 crore orders on the platform.

Among the noteworthy contributors to this remarkable GMV achievement, the contribution of Central Public Sector Enterprises (CPSEs), Central Ministries and State Governments has been 54%, 26% and 20% respectively.

GeM's strategic focus in FY 2023-24 centers on expanding its reach by integrating government buyers across all tiers into its robust e-procurement infrastructure.  (KNN Bureau)