GeM Surpasses Rs 5 Lakh Crore in GMV Ahead of Fiscal Deadline

The Government e-Marketplace (GeM) has surpassed Rs 5 lakh crore in Gross Merchandise Value (GMV), reaching this milestone 18 days before the end of FY 2024-25. The platform's rapid growth underscores its role as a key tool for public procurement, emphasizing inclusivity and technological advancements.

The Government e-Marketplace (GeM) has achieved a major feat by exceeding Rs 5 lakh crore in Gross Merchandise Value (GMV) on its platform ahead of the financial year's end, according to a statement by the commerce ministry on Monday. This achievement cements GeM's status as a dominant public procurement tool for over 1.6 lakh government entities.

Remarkably, the transition from Rs 4 lakh crore to Rs 5 lakh crore was completed in under 50 days after surpassing the previous milestone on January 23, 2025. GeM has introduced several policy reforms lately to improve market access and facilitate seller participation.

Initiatives such as lowering Transaction Charges, Vendor Assessment fees, and Caution Money requirements have increased platform accessibility, benefiting Micro and Small Enterprises (MSEs), startups, and women-led businesses. By February 13, 2025, GeM had registered over 22 lakh sellers and service providers.

This year marks the sixth anniversary of SWAYATT, emphasizing GeM's effort to incorporate priority seller groups into the government procurement framework. By February 13, 2025, GeM had onboarded over 29,000 startups and 1.8 lakh Udyam-verified women-led businesses, promoting inclusivity and economic growth.

Technological advancements have also significantly enhanced procurement efficiency. In FY 2024-25, GeM completed one of India's largest government organization cloud migrations, expected to improve platform scalability, providing a secure and seamless experience for buyers and sellers. GeM, launched on August 09, 2016, by the Ministry of Commerce and Industry, was envisioned by Prime Minister Narendra Modi as a transparent procurement platform with a focus on openness, fairness, and inclusiveness.

(With inputs from agencies.)