GeM attains annual procurement of INR 1 Lakh crore in FY 2021-22
@GeM_India
Government e-Marketplace, GeM has attained an annual procurement of one lakh crore rupees within 2021-22. This represents a 160 percent growth compared to last Financial Year. Addressing media on the occasion, Prashant Kumar Singh, CEO, GeM said that since inception the cumulative Gross Merchandize Value reached one lakh crore rupees over four and half years on 23rd March 2021. Whereas, the Gross Merchandise Value of GeM in the current Financial Year surpassed one lakh crore rupees in less than a year.
Mr Singh added that the portal had transformed public procurement in India by driving its three pillars – inclusion, usability and transparency and efficiency and cost-saving. The number of orders has also surpassed 31.5 Lakh in the current financial year with growth at the rate of 22 percent. In a short span of five years, GeM has become one of the biggest government e-procurement platforms in the world.
Referring to the share of Central Public Sector Enterprises, Mr Singh said that approximately 43 thousand crore worth procurement was done by CPSEs. He also asserted that states continued to be important stakeholders with approximately 30 percent contribution to total Gross Merchandise Value.
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