🙏🙏🙏Public procurement: Govt purchases from MSMEs cross Rs 4 lakh crore through GeM portal | The Financial Express

lipped from: https://www.financialexpress.com/industry/sme/msme-eodb-public-procurement-govt-purchases-from-msmes-cross-rs-4-lakh-crore-through-gem-portal/3058975/

Ease of doing business for MSMEs: “Winning with trust! @GeM_India marks another milestone in public procurement. PM @NarendraModi has ensured transparency & a level-playing field for MSMEs and small businesses,” Commerce Minister Piyush Goyal tweeted hailing GeM’s growth. 

gem, government emarketplace, gem portal, public procurement, piyush goyal, commerce minister, india post, csc, common service center, last mile buyers, gem sellers, gem government buyers, logisticsRs 4.01 lakh crore worth orders were processed via GeM by the time of filing this report since the launch of the portal in August 2016.

Ease of doing business for MSMEs: Public procurement of goods and services by central government ministries and departments has crossed Rs 4 lakh crore via the business-to-government portal Government e-Marketplace (GeM), showed official data. While the portal took 1,771 days to reach Rs 1 lakh crore in gross merchandise value (GMV) since its launch in August 2016, the number of days taken to add another Rs 1 lakh crore GMV and cumulatively reach Rs 2 lakh crore was reduced by over 5.5x to 316 days. In comparison, Rs 3 lakh crore GMV was achieved in 234 days and Rs 4 lakh crore in 123 days on April 19, according to the data tweeted by GeM on April 20. 

GMV is referred to the total value of goods sold, usually through an e-commerce channel over a certain duration.

Also read: GeM: MSMEs sold 88% more goods to govt in FY23 from previous fiscal; seller count crosses 60 lakh

“Winning with trust! @GeM_India marks another milestone in public procurement. PM @NarendraModi has ensured transparency & a level-playing field for MSMEs and small businesses,” Commerce Minister Piyush Goyal tweeted hailing GeM’s growth. 

The GMV stood at Rs 4.01 lakh crore with 1.49 crore orders processed via GeM from over 60 lakh sellers including 8.69 lakh micro and small sellers at the time of filing this report, according to the data from the GeM portal.

The seller count grew from 52 lakh in October last year. In terms of the top buyer in 2022, the Ministry of Defence made the highest amount of purchases worth Rs 16,747 crore via GeM.

Also read: Public procurement: Govt purchases from MSMEs hit all-time high of nearly Rs 60,000 crore in FY23

With respect to the top states, Uttar Pradesh led the tally with goods worth Rs 9,642 crore procured through GeM in 2022. In terms of training and development, 1,459 training sessions on cost-saving buying or running a business were conducted in 2022 and 93,050 people were trained. Moreover, 1,288 new categories and over 4.72 lakh products were added in 2022. With respect to sellers and buyers, 22,38,601 new sellers and 8,178 new buyers were added to the portal during the year. 

Meanwhile, purchases by government enterprises from micro and small enterprises had hit an all-time high in FY23. According to public procurement monitoring portal Sambandh data, procurement worth Rs 58,429 crore was made by central public sector enterprises (CPSEs) from 2.16 lakh MSEs during FY23, growing by 9.3 per cent from Rs 53,423 crore worth purchases made from 2.25 lakh MSEs in FY22. 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s