New Delhi, Feb 14 (KNN) The Ministry of Defence (MoD) has achieved a remarkable feat by exceeding the Rs 1 Lakh Crore milestone in total order value conducted through the Government e-Marketplace (GeM) portal, also known as Gross Merchandise Value (GMV).

Aligned with GeM’s core value of maximising social inclusion, MoD buyers have awarded 50.7 per cent of total orders, amounting to Rs 60,593 Crore, to Micro and Small Enterprises (MSEs), furthering India’s journey towards self-reliance.

Transactions worth approximately Rs 45,800 Crore have been awarded in the current financial year. GeM has facilitated MoD in executing over 5.47 lakh orders, ranging from procurement of everyday items like eggs to critical defence acquisitions, including missile systems.

P. K. Singh, Chief Executive Officer, GeM stated, "The Ministry is the first central government entity to cross this staggering figure, exemplifying its resolute commitment towards optimising public spending in the Defence sector.”

“This milestone underscores the effort and commitment of the Ministry of Defence to embrace change and propel Prime Minister Narendra Modi’s vision of a self-reliant India," he further added.

Since its inception, MoD has been an early adopter of GeM. The significant trust placed in the portal by nearly 19,800 MoD buyers across the country, including remote areas like the North-Eastern States, Leh-Ladakh, and various Island Territories, has led to this remarkable achievement.

Furthermore, the engagement of Defence PSUs on the GeM platform has not only streamlined procurement but has also facilitated sales, marking a paradigm shift in the procurement landscape.

Through initiatives like demand aggregation modules, GeM continues to deliver cost-effectiveness and efficiency in government transactions.

By consolidating requirements for similar products across different organisations, GeM maximises the benefits of large-volume procurement for buyers like the Ministry of Defence, demonstrating its commitment to driving transformative change in government procurement practices.

(KNN Bureau)