Government e-Marketplace Achieves Over Rs 4 Lakh Cr GMV in Just 10 Months
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Synopsis
New Delhi, Jan 25 (NationPress) The government e-Marketplace (GeM) has set a new record by exceeding last year’s gross merchandise value of Rs 4 lakh crore within 10 months of this fiscal year (FY25), marking significant growth in service offerings.
Key Takeaways
- GeM surpassed Rs 4 lakh crore GMV in FY25.
- Services segment contributed 62% of GMV.
- 19 new service categories launched.
- Ministry of Coal emerged as the top procurer.
- Processed 49,960 orders in a single day.
New Delhi, Jan 25 (NationPress) In a remarkable achievement, the government e-Marketplace (GeM) has exceeded last year’s gross merchandise value (GMV) of Rs 4 lakh crore within just 10 months of this fiscal year (FY25).
The GeM reported a GMV of Rs 4.09 lakh crore as of January 23, reflecting a nearly 50 percent increase compared to the same timeframe last fiscal year, according to the Ministry of Commerce and Industry.
Breaking it down by segments, the services sector contributed Rs 2.54 lakh crore (62 percent of the total GMV), while the products sector accounted for Rs 1.55 lakh crore (38 percent).
The substantial growth in the services segment on GeM in FY25 has notably propelled the portal’s upward momentum.
With a focus on expanding the range of services offered on GeM, 19 new service categories have been launched this fiscal year, as reported by the ministry.
Significantly, the services segment has nearly doubled in size compared to the same period last year.
“By enabling the procurement of specialized services such as debit card printing, bulk email services, dark fiber leasing, and data center operations management, the platform has allowed government entities to source from trustworthy vendors, leading to substantial efficiency improvements,” stated the ministry.
Central government entities have played a pivotal role in the notable increase in GMV.
The ministries of coal, defence, petroleum and natural gas, power, and steel emerged as the top five procurers on GeM.
With a transaction order value nearing Rs 1.63 lakh crore, the Ministry of Coal has become the leading procurer, placing over 320 high-value bids worth approximately Rs 42,000 crore for coal PSUs focused on handling and transport services.
Thanks to ongoing simplification and reforms, the GeM portal has successfully processed over 2.59 crore orders, achieving a GMV of more than Rs 11.64 lakh crore since its inception.
Additionally, during the current fiscal year, GeM accomplished another historic milestone by processing 49,960 orders in a single day, showcasing the seamless efficiency and resilience of the GeM ecosystem and its rapid acceptance by all stakeholders, according to the ministry.
