New Delhi, Jan 22 (KNN) The Gross Merchandise Value (GMV) of the state-run government e-marketplace (GeM), is projected to surge by 75 per cent and reach Rs 3.5 lakh crore in the current fiscal year.

The upswing is attributed to the engaged usage of the portal by diverse government departments in procuring goods and services, reported Mint.

This anticipated GMV represents a substantial increase of Rs 1.5 trillion compared to the previous fiscal year's Rs 2 trillion. Currently, the state-run procurement portal offers an extensive range of 11,880 products and 320 services to its extensive client base of over 70,000 government entities.

GeM has witnessed notable growth in the procurement of goods and services, achieving a milestone of Rs 2.5 trillion and processing four million orders in FY2023-24 up to December, as disclosed by an anonymous source.

The procurement of services on GeM has exhibited significant growth over the past two-three years, escalating from Rs 8,500 crore in FY2020-21 to Rs 66,000 crore in FY2022-23. In the first nine months of the current fiscal year, the GMV of services has already surpassed Rs 1.17 trillion, as per the same source.

Accessible exclusively to public sector undertakings, government departments, cooperatives, and civic bodies, GeM has become a vital platform for streamlined online procurement.

Over 8,87,000 micro and small enterprises (MSEs) registered on the portal have received orders exceeding Rs 3.10 trillion, contributing over 48.15 per cent to GeM's cumulative GMV, according to Abhishek Dayal, the spokesperson for the commerce ministry.

The platform has further enrolled more than 155,000 MSMEs led by women entrepreneurs, fulfilling over 862,000 orders valued at Rs 21,539 crore until December.

GeM has actively supported over 22,290 start-ups in establishing their presence in the Indian marketplace as part of its initiatives to promote Make in India products.

Central Public Sector Enterprises (CPSEs) such as Coal India Ltd, NTPC Ltd, Oil and Natural Gas Corporation Ltd, and Bharat Petroleum Corporation Ltd have extensively utilised GeM for their service procurement needs.

Additionally, several states and union territories, including Gujarat, Uttar Pradesh, Delhi, Uttarakhand, and Punjab, have adopted GeM as their preferred platform for services procurement.

GeM has facilitated unique service orders, including the hiring of chartered aircraft, international air logistics services, drone-as-a-service, leasing of high-value medical equipment, market surveys, examinations, cybersecurity services, and AV/VR services for events.

Notably, the Ministry of Defence employed GeM to hire 830 chartered aircraft for various routes, with an order value of approximately Rs 142 crore. Survey of India and Coal India utilised GeM's Drone as a Service (DaaS) for surveying and aerial mapping.

(KNN Bureau)