GeM (Government e-Marketplace) is a unique initiative led by Prime Minister Narendra Modi to ensure affordable, transparent, and democratized public procurement in India. This platform has emerged as a trusted marketplace for all buyers and sellers and has recently achieved a major milestone of ₹1.5 lakh crore Gross Merchandise Value (GMV) till February 1st, 2023.
The geM was established in 2016 with the aim of making government procurement processes more efficient and transparent. The platform is designed to be user-friendly and offers a wide range of goods and services to government departments, public sector units, and other authorized agencies.
It eliminates the need for manual processes, reduces the time and effort required for procurement, and ensures that the procurement process is conducted in a fair and transparent manner.
GeM has been successful in reducing corruption and leakages in the procurement process. The platform uses advanced technology to ensure that the procurement process is conducted in a fair and transparent manner. The use of e-bidding and e-auction processes on GeM has made the procurement process more competitive, leading to better prices and better quality goods and services.
GeM has been widely accepted by both buyers and sellers. The platform offers a range of goods and services, including office supplies, IT hardware and software, transportation services, and more. The platform is also a one-stop shop for all procurement needs, eliminating the need for government departments and agencies to approach multiple suppliers for different items.
The achievement of ₹1.5 lakh crore GMV on GeM is a testament to the success of this initiative. This milestone indicates the growing trust of buyers and sellers in the platform and demonstrates the potential of GeM to revolutionize the procurement process in India.
GeM is a game-changer in the field of public procurement in India. Its user-friendly platform, advanced technology, and commitment to fair and transparent procurement processes make it a trusted and reliable marketplace for all buyers and sellers. With the achievement of ₹1.5 lakh crore GMV, GeM has established itself as a major player in the procurement space and is poised for even greater success in the future.
