Business

GeM Surpasses Rs 5 Lakh Crore GMV Ahead Of Schedule

The commerce ministry on Monday announced that the Government e-Marketplace (GeM) has crossed a major milestone, exceeding Rs 5 lakh crore in Gross Merchandise Value (GMV) well before the financial year 2024-25 concludes.

This achievement solidifies GeM’s role as a key facilitator of public procurement, catering to over 1.6 lakh government entities.

The latest Rs 1 lakh crore surge in GMV was achieved in less than 50 days since reaching the Rs 4 lakh crore mark on 23 January 2025.

Recent policy changes have contributed to this rapid growth, making it easier for sellers to participate in government procurement.

Measures such as lower Transaction Charges, reduced Vendor Assessment fees, and relaxed Caution Money requirements have particularly benefited Micro and Small Enterprises (MSEs), startups, and women-led businesses.

By 13 February 2025, the platform had registered more than 22 lakh sellers and service providers.

This year also marks the sixth anniversary of SWAYATT (Startups, Women, and Youth Advantage Through eTransactions), reinforcing GeM’s commitment to integrating priority seller groups into the procurement ecosystem.

So far, over 29,000 startups and 1.8 lakh Udyam-verified women-led businesses have joined the platform, further promoting inclusivity and economic empowerment.

GeM has also invested in technological upgrades to enhance procurement efficiency.

One of its major initiatives in FY 2024-25 was executing one of India’s largest cloud migrations by a government entity.

This shift will likely improve platform scalability and ensure a seamless experience for buyers and sellers alike.

Prime Minister Narendra Modi envisioned GeM as a transparent and open procurement system for government buyers, launching it on 9 August 2016 under the Ministry of Commerce and Industry.

It continues to operate on the principles of openness, fairness, and inclusivity.

Also Read: ISRO Achieves Milestone With Successful SpaDeX Mission De-Docking

Mankrit Kaur

Recent Posts

PIB Fact Check Exposes Fake Video Of ‘Indian Soldier’ Criticizing Government

PIB debunks fake video of impersonator posing as Indian soldier criticising government, exposing propaganda tactics.

3 hours ago

Realme C85 Pro Leak Reveals Design, Specs & Purple Colour Variant

Realme C85 Pro leak reveals sleek design, purple variant, 7000mAh battery, triple camera, and strong…

4 hours ago

Cobrapost Alleges ₹28,874 Crore Fraud By Reliance Anil Dhirubhai Ambani Group

Cobrapost has alleged that the Reliance Anil Dhirubhai Ambani Group (ADAG) engaged in large-scale financial…

4 hours ago

Justice Surya Kant To Take Oath As 53rd Chief Justice Of India On 24 November 2025

Justice Surya Kant is appointed as the next Chief Justice of India, from 24 Nov…

4 hours ago

PM Modi Arrives In Gujarat For Two-Day Visit To Celebrate Sardar Patel’s Legacy

Prime Minister Modi received a warm welcome in Gujarat as he arrived for a two-day…

5 hours ago

Top Smartwatches For Everyday Use: Blending Style, Connectivity, And Functionality

Discover the best smartwatches for everyday use, offering fitness tracking, health monitoring, connectivity, and sleek…

5 hours ago