Government e-Marketplace Achieves Over Rs 5 Lakh Crore GMV Ahead of FY25 Deadline
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Synopsis
The Government e-Marketplace (GeM) has achieved over Rs 5 lakh crore GMV, exceeding expectations before FY25 ends. This milestone reflects its rapid growth and commitment to transparency, benefiting a vast network of sellers and buyers.
Key Takeaways
- GeM achieved Rs 5 lakh crore GMV ahead of schedule.
- Over 22 lakh sellers registered on the platform.
- More than 1.6 lakh government buyers use GeM.
- Initiatives to support MSEs and women-led enterprises have been implemented.
- GeM's cloud migration enhances platform efficiency.
New Delhi, March 17 (NationPress) The Government e-Marketplace (GeM) has surpassed Rs 5 lakh crore in gross merchandise value (GMV) on its platform, achieving this milestone more than 18 days prior to the conclusion of the current financial year 2024-25, as announced by the Centre on Monday.
Notably, the jump from Rs 4 lakh crore to Rs 5 lakh crore was accomplished in under 50 days following the crossing of the previous threshold on January 23, 2025.
As of February 13, there are over 22 lakh sellers and service providers registered on GeM, contributing to a diverse and competitive procurement ecosystem.
With a strong dedication to transparency and fiscal responsibility, GeM has facilitated cumulative public savings exceeding Rs 1,15,000 crore.
The platform boasts over 1.6 lakh registered government buyers, including central and state ministries, departments, public sector enterprises, panchayats, and cooperatives, which further promotes the adoption of digital procurement across all governance levels.
This accomplishment underscores GeM's rapid growth, catering to a buyer base of over 1.6 lakh government entities, as reported by the Ministry of Commerce and Industry.
GeM has enacted significant policy reforms recently to enhance market accessibility and streamline seller participation.
Key initiatives such as the reduction of transaction charges, vendor assessment fees, and caution money requirements have made the platform more accessible, particularly benefiting micro and small enterprises (MSEs), startups, and women-led enterprises.
This year also marks the sixth anniversary of SWAYATT (Startups, Women, and Youth Advantage Through eTransactions), an initiative that emphasizes GeM’s commitment to integrating priority seller groups into the government procurement framework.
GeM has successfully onboarded over 29,000 startups and 1.8 lakh Udyam-verified women-led businesses (as of February 13, 2025), promoting greater inclusivity and economic empowerment.
In addition to policy enhancements, technological advancements have played a vital role in improving procurement efficiency.
In FY 2024-25, GeM executed one of the largest cloud migrations by a government organization in India. This migration is anticipated to improve the platform’s scalability, ensuring a secure, reliable, and seamless experience for both buyers and sellers.
