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GeM crosses Rs 4 lakh crore in gross merchandise value, states fuel growth
The Business Guardian
|March 30, 2024
Government e Marketplace has achieved Rs 4 lakh crore in gross merchandise value (GMV) in FY24, doubling its GMV clocked at the end of the previous fiscal year 2022-23.
This testifies to the portal's unique digital capabilities and functionalities that have facilitated greater efficiency, transparency, and seamlessness in public procurement. Nearly 50 per cent of this GMV has been attributed to the procurement of services, displaying a remarkable surge of 205 per cent in terms of services procured on GeM in FY 23. The portal started its trailblazing journey to Rs 4 lakh crore-landmark with Rs 422 crore in GMV in 2016.
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