The Government e-Marketplace (GeM) has achieved a major milestone by crossing Rs. 5 lakh crore in Gross Merchandise Value (GMV), just weeks before the financial year 2024-25 concludes. This significant achievement highlights GeM’s rapid expansion as India’s premier public procurement platform, benefiting over 1.6 lakh government entities nationwide.
Unprecedented Growth in Procurement
According to a statement from the Ministry of Commerce & Industry, GeM experienced remarkable growth, surging from Rs. 4 lakh crore to Rs. 5 lakh crore in under 50 days since January 23, 2025.
Key Policy Reforms Driving Growth
Several policy reforms have played a crucial role in enhancing market accessibility and attracting a diverse range of sellers, including:
- Reduced transaction charges for sellers.
- Lower vendor assessment fees to encourage more participation.
- Relaxed caution money requirements to make the platform more inclusive.
By February 13, 2025, GeM had onboarded over 22 lakh sellers and service providers, creating a competitive and transparent procurement environment.
Supporting Startups, Women Entrepreneurs, and MSMEs
The year also marks the sixth anniversary of SWAYATT, an initiative that promotes startups, women entrepreneurs, and youth participation in public procurement. As of mid-February 2025, GeM had:
- Onboarded 29,000+ startups
- Registered 1.8 lakh Udyam-verified women-led businesses
This initiative aligns with the government’s commitment to economic inclusivity and digital empowerment.
Technological Advancements Fueling Efficiency
GeM has embraced cutting-edge technology to enhance its functionality, including:
- One of the largest cloud migrations by a government entity, improving scalability and performance.
- AI-powered procurement tools (GeM AI) for real-time data insights, streamlining decision-making and enhancing efficiency.
GeM’s Impact on Public Savings and Governance
GeM’s role in optimizing government expenditure has led to savings exceeding Rs. 1,15,000 crore, with participation from various ministries, public sector enterprises, and local government bodies. The platform has successfully digitized procurement at all levels of governance, ensuring transparency and cost-effectiveness.
Future Outlook
As GeM continues its exponential growth, it remains focused on:
- Fostering innovation in procurement
- Expanding inclusivity for MSMEs, startups, and women-led enterprises
- Enhancing digital infrastructure to further improve efficiency
With its strong commitment to transparency, innovation, and economic inclusivity, GeM is set to further revolutionize India’s public procurement ecosystem, contributing significantly to the country’s economic growth and governance efficiency.
