Government e-Marketplace (GeM) is an online public procurement service in India . The online marketplace in India reached a staggering Rs 1 lakh crore for the financial year 2022-23 (FY23) alone .
New Delhi, India, November 30, : After the government e-Marketplace (GeM), an online marketplace in India, celebrated the vendors for displaying their products on the Government e-Marketplace (GeM), a platform that covers the financial year 2022-2023, the Prime Minister said on Tuesday, Excellent news!I congratulate all those who are selling their goods on this website and encourage others to do the same.As mentioned previously, Government e-Marketplace (GeM), an online public procurement service in India, reached a staggering Rs 1 lakh crore for the financial year 2022-23 (FY23) alone.GeM has surpassed the Rs 3 lakh crore GMV since its inception, and the total number of transactions on the platform recently surpassed 1.2 crore, according to GeM CEO PK Singh, who also praised the team for its accomplishments.
The average GMV of GeM is about USD 14.2 billion for the years 2021-22.Flipkart has a GMV of USD 23 billion in 2021-22, while Amazon has a GMV of USD 17.Singh said, If we look at the number of transactions on international public e-procurement portals, GeM is number one, but by value, GeM is number three after KONEPS of South Korea and GeBIZ of Singapore.On GeM, we have over 8 lakh MSME sellers and service providers, as well as 1.2 lakh women sellers entrepreneurs. On GeM, the average order number is more than 10,000.According to GeM CEO Piyush Goyal, the top four biggest buyers are Gujarat, Uttar Pradesh, Maharashtra, and Madhya Pradesh, and over 54 lakh sellers and service providers who offer a wide variety of products and services.For some states, dedicated nodal officers with a comprehensive data-backed roadmap have been identified.The lessons learned in these states can be replicated throughout the region. On GeM, more than 200 ODOP categories have been developed, and suppliers and catalogs are being created with support from Invest India and the Department for the promotion of industry and internal trade (DPIIT).GeM has made significant strides in ensuring that cooperative societies are able to register and activate their GeM pool accounts in a phased manner, as per the Union Cabinets' decision.Through the GeM platform, cooperative societies will have direct access to over 54 lakh sellers and service providers around the region.Procurement using standard procurement methodologies within GeM would result in time savings and a reduction in administrative costs. The portal has reshaped Indian public procurement by focusing on three main pillars: inclusion, transparency, and efficiency.