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THIS FISCAL YEAR, PUBLIC PROCUREMENT THROUGH THE GEM PORTAL EXCEEDS RS 1 LAKH CRORE

by Juhi Tripathi

Date & Time: Mar 26, 2022 9:00 AM

Read Time: 2 minute


HIGHLIGHTS:

  • GeM is now one of the top five e-public procurement systems in the world, according to this recent ranking
  • Government portal GeM has surpassed Rs 1 lakh crore in the current fiscal year
  • There are no Chinese products on this portal
  • The portal also aims to empower the country's MSMEs.

The procurement of products and services through the government portal GeM has surpassed Rs 1 lakh crore in the current fiscal year. This was owing to an increase in the amount of money spent by numerous departments and ministries.

Taking an overview

GeM is now one of the top five e-public procurement systems in the world, according to this recent ranking. There are no Chinese products on this portal. This portal was developed in 2016 to allow all central ministries and departments to purchase products and services through the internet. Based on current trends, the platform is likely to reach a valuation of around Rs 1.5 lakh crore. The procurement of central public sector enterprises (CPSEs) in the current fiscal year totaled Rs 43,000 crore. Previously, it took the platform four and a half years to reach Rs 1 lakh crore, but it has now been accomplished in the current fiscal year. This portal has already received over 10,000 registrations. The portal also aims to empower the country's MSMEs.

The GeM Portal now has some new features

The GeM portal will also be integrated with Panchayati raj institutions, allowing them to buy and sell online. Other new features include a buyback mechanism that allows buyers to replace their old products and receive a discount or repurchase.

Top buying states from this portal

The top five states that buy from this portal are Delhi, Uttar Pradesh, Madhya Pradesh, and Gujarat.

Who is allowed to use the GeM site to conduct transactions?

Currently, the GeM portal allows ministries, government agencies, state governments, public sector units, and the Central Armed Police Forces to trade.

Products on the market

This website sells a wide range of items, from office supplies to automobiles. Computers, autos, and office furniture are the most popular product categories on this website. Waste management, logistics, web casting, transportation, and analytics are among the other services provided on this portal.

Also Read: INDIA’S EXPORT TARGET OF $400 BILLION: भारत ने तय समय से पहले पूरा किया 400 अरब डॉलर का निर्यात लक्ष्य!

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