Procurement of goods and services through Government-e-Marketplace doubles to Rs 4L cr in FY24

Nearly 50% of this GMV till March 2024 has been attributed to the procurement of services, registering a 205% growth when compared to last year. GeM chief executive officer PK Singh said procurement of services from the portal has jumped from Rs 66,000 crore in FY23 to Rs 2.05 lakh crore so far this fiscal. Goods worth Rs 1.95 lakh crore have been bought from the platform. Automobiles, computers and office furniture are some of the major product categories.

“GeM has been successful in breaking down the cartel of established service providers, paving way for small domestic entrepreneurs to participate in government tenders at any time,” a commerce ministry statement said on Friday.