Mahatma jyotiba phule, University in Bareilly, India

Mumbai (Maharashtra) [India], April 1 : A total of Rs 2 lakh crore of Gross Merchandise Value (GMV) was processed under Government e-Marketplace (GeM) platform in the financial year 2022-23 which ended on Friday.Government e-Marketplace (GeM) is an online platform for public procurement in India. The initiative was launched on August 9, 2016, to create an inclusive, efficient, and transparent platform for buyers and sellers to carry out procurement activities fairly and competently.Cumulatively, GeM has surpassed Rs 3.9 lakh crore worth of transactions since its inception, with support from all its stakeholders.The total number of transactions on GeM is about 1.47 crore.The platform caters to the diverse procurement needs of over 67,000 government buyer orgsations. The portal features over 11,700 product categories with more than 32 lakh listed products, as well as over 280 service categories with more than 2.8 lakh service offerings, a release said.Based on various studies, the government said the minimum savings on the platform so far were about 10 per cent, translating into a savings of Rs 40,000 crore worth of public money.Through automation and digitization of processes, GeM has led to higher process efficiencies, better information sharing, improved transparency, reduced process cycle times, and a higher level of trust among bidders, which in turn have resulted in greater competition and higher savings, the release said.The innovations in GeM have also brought down waiting times and prices for buyers significantly and ensured timely payments to sellers, which enhances the overall "Ease of Doing Business" while also promoting the highest standards of quality in public procurement in India.Talking to the media in Mumbai, Union Commerce and Industry Minister Piyush Goyal said that procurement of goods and services from government portal Government e Marketplace (GeM) has crossed the Rs 2 lakh crore mark in 2022-23, which is a remarkable achievement.Goyal highlighted the role of GeM as a digital tool in the public and national interest.GeM is a symbol of the speed with which PM Narendra Modi has taken the country forward through modern technology, said the Minister.. Mediapersons from various parts of the country also joined the press conference via video conferencing.Goyal congratulated GeM and its strong ecosystem of buyers and sellers, whose unwavering support has been pivotal towards achieving this historic feat.The Minister added that the Prime Minister desires that the Government departments run at the highest levels of integrity and transparency, with participation of people from the remotest corners of the country and enables women entrepreneuers, startups and the MSME sector to participate in a fair and equitable manner in government procurements."I am confident that GeM will grow faster, the future is very bright. I would like to appeal to more and more vendors to join GeM so that they too get a chance to participate in the government procurement process", he said.The Minister mentioned that India has crossed total exports of USD 750 billion dollar for the financial year 2022-23 and the final figure is expected to cross 765 billion dollar.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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