The government e-marketplace (GeM) will launch fresh initiatives to encourage states and the public-sector units (PSUs) under them to more than double their purchases of goods and services through the portal to breach the Rs 60,000-crore mark in FY23, as informed by GeM chief executive PK Singh.
Total procurement through the GeM portal surged a record Rs 1 trillion in FY22, having a recorded a 160% jump over the previous year. In fact, before the latest feat, procurement through the portal had breached the Rs 1-trillion mark in as many as four-and-a-half years. Singh exuded confidence procurement via GeM will exceed Rs 1.5 trillion in the current fiscal.
“While the procurement by states and their PSUs hit a record in FY22, there is still a huge scope for them to go further. Central Government (CG) departments and CPSEs are already procuring through GeM in a big way,” Singh added.
The GeM portal was launched in August 2016, to improve transparency in purchases of various goods and services by all the CG ministries, departments and public-sector firms and state governments, apart from providing a new-age platform for official procurement. Sellers range from small business to large companies.