GeM Celebrates 8 Years of Success: PM Modi Highlights Inclusive Economic Growth

Prime Minister Narendra Modi lauded the Government e-Marketplace (GeM) for its notable achievements as it celebrated its 8th anniversary. The platform's Gross Merchandise Value (GMV) soared to Rs 1.24 lakh crore in Q1 FY 2024-25, underscoring its role in inclusive economic growth and support for marginalized communities.

Prime Minister Narendra Modi commended the Government e-Marketplace (GeM) on Friday as the e-procurement platform celebrated its 8th anniversary. Modi highlighted GeM's role in driving inclusive economic growth and mentioned its impressive cumulative sales nearing Rs 10 lakh crore. 'Compliments to all stakeholders of @GeM_India,' Modi posted on X.

The Ministry of Commerce and Industry revealed that GeM's Gross Merchandise Value (GMV) reached Rs 1.24 lakh crore by the end of Q1 FY 2024-25, reflecting a staggering 136 percent increase from Rs 52,670 crore in the previous year. The services segment alone saw a 330 percent surge to over Rs 80,500 crore.

Central Ministries, particularly Coal, Defence, and Petroleum & Gas, drove procurement past the Rs 1 lakh crore mark, showcasing GeM's pivotal role in national economic stability. The platform has provided unprecedented opportunities for MSMEs, Startups, and marginalized communities. To aid sellers, GeM is launching 'GeM SAHAYAK' for enhanced user support and training.

Sellers will now benefit from reduced transaction charges under a new policy, making the platform more competitive. The Aabhar Collection was introduced to promote local artisans, aligned with the 'Vocal for Local' initiative. Strategic partnerships and training sessions further expanded GeM's user base, solidifying its commitment to a user-friendly procurement ecosystem.

Launched in 2016, GeM has transformed government procurement processes, becoming a crucial marketplace for government buyers and sellers across India. With interactive and multilingual training programs, GeM continues to foster an inclusive and robust procurement environment.