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30/11/2022 02:57pm

Purchase through GeM portal crosses Rs 1 lakh cr in FY 23

image Purchase through GeM portal crosses Rs 1 lakh cr in FY 23

New Delhi, Nov 30 (KNN) The government e-Marketplace (GeM) platform crosses Rs 1 Lakh crore Gross Merchandise value (GMV) till 29th November 2022 for the financial year 2022-2023.

Since its inception, the platform has surpassed Rs 3 lakh crore GMV and the total number of transactions on GeM also recently surpassed 1.2 crore, according to GeM CEO PK Singh.

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The platform currently has over 63,000 government buyer organisations as well as over 54 lakh sellers and service providers, offering a wide range of products and services.

“We will exceed the target of Rs 1.5 lakh crore this financial year. GeM is also expected to surpass Amazon-Flipkart by the end of this financial year, GeM Chief Executive Officer PK Singh told ANI.

The 2021-22 annual GMV of GeM is around USD 14.2 bn. In 2021-22 Pvt e-market player Flipkart has a GMV of USD 23 bn and Amazon has GMV of USD 17 bn.

“If we see number of transaction on global public e-procurement portals, GeM is number one but by value GeM is number three after KONEPS of South Korea and GeBIZ of Singapore,” Singh pointed out.

He said that Rs 8,800-11,500-crore savings is estimated in FY21-22. We have more than 8 lakh MSME sellers and service providers on GeM and 1.2 lakh women sellers’ entrepreneurs on GeM.

As per reports, the average order value per day at the platform is Rs 410 crore. “Average number of order on GeM is more than 10,000. Gujarat, Uttar Pradesh, Maharashtra and Madhya Pradesh are the top 4 largest procurers on GeM.

GeM has recently launched a focused campaign to boost procurement via states. Dedicated nodal officers with a comprehensive data-backed roadmap have been identified for select states. The lessons learnt in these states will be replicated across the country.

The platform also launched the One District One Product (ODOP) initiative to provide impetus to the specially-curated products fr0m various districts in the country. More than 200 ODOP categories have been created on GeM, which is being populated with sellers and catalogues with assistance fr0m Invest India and the department for the promotion of industry and internal trade (DPIIT).

In line with the Union Cabinet’s decision to enable procurement of goods and services for cooperative societies, GeM has taken significant strides in ensuring that the cooperatives are on boarded onto the platform in a phased manner.  (KNN Bureau)

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