GeM celebrates 8 years of success: PM Modi stresses on inclusive growth

Prime Minister Narendra Modi lauded Government e-Marketplace (GeM) on Friday as the e-procurement platform celebrated its 8th anniversary. Modi highlighted GeM’s role in driving inclusive economic growth and mentioned its impressive cumulative sales approaching Rs 10 lakh crore. “Compliments to all stakeholders @GeM_India,” Modi posted on X.

The Ministry of Commerce and Industry has revealed that GeM’s gross merchandise value (GMV) reached Rs 1.24 lakh crore by the end of the first quarter of fiscal 2024-25, a staggering 136 per cent growth from Rs 52,670 crore in the previous year. The services segment alone saw a 330 per cent growth to over Rs 80,500 crore.

Central ministries, especially coal, defence and oil and gas, have led to cross the Rs 1 lakh crore mark in public procurement, demonstrating the critical role of GeM in national economic stability. The platform has provided unprecedented opportunities to SMEs, startups and marginalized communities. To help vendors, GeM is launching ‘GeM SAHAYAK’ to provide enhanced support and training to users.

Sellers will now enjoy reduced transaction fees under the new policy, making the platform more competitive. The Aabhar collection was launched to promote local artisans, in line with the ‘Vocal for Local’ initiative. Strategic partnerships and training sessions have further expanded GeM’s user base, cementing its commitment to a user-friendly ordering ecosystem.

Launched in 2016, GeM has transformed the public procurement process, becoming a key marketplace for government buyers and sellers across India. Through interactive and multilingual training programs, GeM continues to promote an inclusive and robust public procurement environment.

(Based on information from the agency.)