Government e-Marketplace (GeM) has achieved significant milestones in the procurement of services over the past few years. GeM, India’s leading online platform for government procurement, witnessed an extraordinary increase in the transaction value, reinforcing its commitment to streamlining the procurement process and fostering efficiency and transparency in government purchases.
GeM’s robust growth in service procurement has been nothing short of remarkable. Over the last two to three years, the transaction value has surged from approximately INR 8,505 crore in FY 20-21 to an impressive INR 65, 957 crore in FY 22-23. The services sector has exhibited a staggering increase in the overall contribution to GeM Gross Merchandise Value or the total order value transacted through the platform, having jumped from 23% in FY 21-22 to nearly 47% in the current financial year. GeM has set a forward-looking target of surpassing INR 1.50 lakh crore in the current fiscal year.
