GeM has potential to surpass Rs 1.75 lakh cr target, says CEO PK Singh

New Delhi, Feb 9 (KNN) The Government e-Marketplace (GeM) is suitably placed to exceed its ambitious target of Rs 1.75 lakh crore, said PK Singh, CEO, GeM on Wednesday in a media interaction.

As on February 1, 2023, GeM has achieved Rs 1.5 lakh crore of Gross Merchandise Value (GMV) in FY23 alone.

“Cumulatively, the public procurement portal has cross the Rs 3 lakh crore GMV since inception, with the support of its stakeholders,” he said.

The total number of transactions on GeM has also crossed 1.3 crore. 

Sharing the journey and vision ahead, Singh thanked all the stakeholders who are the primary drivers behind GeM's reaching such great heights.

GeM has over 66,000 government buyer organisations and more than 58 lakh sellers and service providers offering a diverse range of goods and services.

The portal features over 11,000 product categories with more than 29 lakh listed products, as well as over 270 service categories with more than 2.5 lakh service offerings.

Based on various studies, the minimum savings on the platform are about 10 per cent, which translates into a savings of over Rs 30,000 crore worth of public money.  (KNN Bureau)