Government E-Market Portal Sees 50% Growth in Procurement

The Government e-Market (GeM) portal's procurement activities grew by 50% to exceed Rs 4 lakh crore from April-January this fiscal. The platform facilitated significant government acquisitions, particularly in services, aiding ministries like Coal, Defence, and Petroleum in efficient sourcing from reliable vendors.

The Government e-Market (GeM) portal has achieved remarkable growth, registering a 50% increase in procurement activities, reaching over Rs 4 lakh crore from April to January this fiscal year, as reported by an official statement.

Launched in August 2016 to streamline purchases by central government ministries, the platform has already surpassed the previous year's gross merchandise value within ten months.

Particularly noteworthy is the services segment, which garnered Rs 2.54 lakh crore, significantly contributing to this growth. The Ministry of Coal emerged as the top procurer with significant high-value bids.

(With inputs from agencies.)