GeM closes current financial year at Rs 4 Lakh Crore GMV

The Government e-Marketplace (GeM) has closed the current financial year with a record Four Lakh Crore rupees in Gross Merchandise Value GMV. It has doubled its GMV as compared to the previous Fiscal Year.

Briefing media in New Delhi today CEO of GeM P K Singh said, this testifies to the GeM portal’s unique digital capabilities and functionalities that have facilitated greater efficiency, transparency and seamlessness in public procurement. He said, nearly 50 per cent of this Gross Merchandise Value has been attributed to the procurement of Services, displaying a remarkable surge of 205 per cent in terms of services procured on GeM last Financial Year. Mr Singh said, that through initiatives like Vocal for Local, One District One Product, and StartUp Runway, GeM has provided a level playing field for domestic businesses to grow and thrive.

Additional Secretary of Commerce Anant Swarup was also present on the occasion.

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