Healthy growth in the procurement of goods and services by central and state governments through GeM portal is helping the platform to catch up with global e-commerce giants like Amazon and Flipkart, the Economic Survey said on Tuesday.
The Government e-Market (GeM) portal was launched on August 9, 2016 by the commerce ministry for online purchases of goods and services by all the central government ministries and departments and other agencies including public sector units.
Procurement of goods and services from the portal has crossed Rs 1 lakh crore till November 29 this fiscal on account of an increase in buying activities.
"The GeM has witnessed tremendous growth in gross merchandise value and is catching up with e-commerce giants like Amazon and Flipkart," the survey said, adding, "GeM attained an annual procurement of Rs 1 lakh crore within fiscal year 2022, representing a 160 per cent growth compared to last FY (fiscal year)".
GeM CEO P K Singh had earlier stated that going by the trend, the numbers may reach Rs 1.80 lakh crore by the end of this fiscal.
The GeM platform has taken a host of steps to onboard products of self-help groups, tribal communities, artisans, weavers and MSMEs.
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"Fiftyseven per cent of the total business on GeM has come through the MSME units, and female entrepreneurs have contributed over 6 per cent," it said.
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