Procurement of goods and services through Government-e-Marketplace doubles to Rs 4L cr in FY24

CHENNAI: The procurement of goods and services through Government-e-Marketplace (GeM) platform has doubled in the current 2023-24 financial year till March 28, 2024 as against last fiscal by crossing Rs 4 lakh crore in gross merchandise value (GMV).

The portal was started in 2016 for transparent procurement of goods and services for the government departments and various ministries from small-scale sellers such as women self-help groups, start-ups and MSMEs. In 2016, merchandise value in the portal stood at Rs 422 crore and in 2021-22 it stood at Rs 1.06 lakh crore. The transaction was at Rs 2 lakh crore in FY23.