Shopping on government online platform GeM crosses Rs 4 lakh crore. Loktej Business News
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New Delhi, March 29 (Hindustan Reporter) Due to increased procurement activities by various ministries and departments of the country, the purchases so far in the current financial year 2023-24 on the government online platform GeM have crossed Rs 4 lakh crore. There is an increase of 205 percent in the services received from GeM. 21 lakh vendors and service providers have participated in this.
The Ministry of Commerce and Industry said in a statement issued on Friday that so far in the current financial year 2023-24, the purchase of goods and services through the government platform GeM has crossed Rs 4 lakh crore. The Government e-Market (GeM) platform for online procurement of goods and services by all Ministries and Departments of the Central Government was launched on August 9, 2016.
GeM Chief Executive Officer (CEO) PK Singh said that by March 28, 2024, the procurement has crossed Rs 4 lakh crore, which is historic. He said the purchase value in the financial year 2021-22 was Rs 1.06 lakh crore, which crossed Rs 2 lakh crore in the last financial year 2022-23. Singh said that the purchase of services from the platform has increased from Rs 66 thousand crore in the financial year 2022-23 to Rs 2.05 lakh crore so far in the current financial year 2023-24. He said that in the current financial year till March 28, goods worth Rs 1.95 lakh crore were purchased from the platform.
It is noteworthy that South Korea’s KONEPS tops the list of government online procurement platforms worldwide. After this, Singapore’s GEBIZ is at second place and India’s GeM is at third place.
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