E-marketplace registered a growth of 166 percent compared to the last financial year (April to November)
Government e-Marketplace (GeM) has gone beyond conventional support to provide Central Public Sector Enterprises (CPSEs) with tailored solutions through strategic intervention to accommodate complex procurement. In just 6.5 months of FY 23-24, procurement by CPSEs has surpassed INR 1 lakh crore mark. There is a 166% increase in procurement by CPSEs through GeM in FY 23-24 as compared to last year (April to November). Consistent rise in the procurement of services by CPSEs has been witnessed with an increase from INR 37,600 crore (approx.) in FY 22-23 to INR 66,550 Crore (approx.) in FY 23-24 (between April – November 2023).
Procurement carried out by CPSEs on GeM contributes to nearly 63% of total GeM Gross Merchandise Value (GMV). More than 240 CPSEs have emerged as pivotal contributors and actively engaged with GeM. In FY 22-23, GeM recorded and achieved an annual GMV of more than INR 2 lakh crore. In FY 23-24 alone, the sole procurement of CPSEs through GeM is projected at INR 2 lakh crore – nearly doubling its performance from the last fiscal year.
CPSEs under Ministry of Coal, Ministry of Power, Ministry of Steel and Ministry of Heavy Industries have emerged as the top procurers in the current financial year. NTPC Limited under the Ministry of Power has awarded multiple orders for procurement of Mine Development and Operations Services, valued at more than INR 40,000 crore. Handling and Transport Services have emerged as the second highest trending services in this period. CPSEs under the Ministry of Coal have been recognised as the top procurers of this service, with a total spending of INR 30,000 crore (approx.). 45 CPSEs have registered as sellers on GeM since 2021; of these, 43 CPSEs have successfully fulfilled orders amounting to nearly INR 23,800 crore.
As key players in various sectors, CPSEs have embraced innovation and efficiency, resulting in a commendable boost to GeM’s growth journey. This development not only highlights their commitment to excellence but also reinforces their support for the public procurement digital ecosystem. GeM has further provided adequate handholding throughout bid publishing processes, ensuring seamless and successful execution through dedicated nodal officers who are in regular touch with the CPSE buyers.
