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GeM Reaches New Heights with ₹4 Lakh Crore GMV in Just 10 Months
GeM Surpasses ₹4 Lakh Crore GMV in Record Time, Sets New Benchmark for FY 2024-25
The Government e-Marketplace (GeM) has achieved a historic milestone, crossing a Gross Merchandise Value (GMV) of ₹4.09 lakh crore within the first 10 months of FY 2024-25. This remarkable feat reflects a 50% year-on-year growth, surpassing the previous year’s GMV within a record time. The platform’s success underscores its pivotal role in revolutionizing public procurement in India.
Services Segment Drives Growth
The services segment emerged as the key growth driver, contributing a substantial ₹2.54 lakh crore (62%) to the total GMV. In comparison, the product segment accounted for ₹1.55 lakh crore (38%). Notably, the services sector on GeM witnessed a 100% growth over the same period last year, marking a significant shift in procurement patterns.
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To bolster this segment, GeM introduced 19 new service categories in FY 2024-25, including debit card printing, bulk email services, dark fiber leasing, and data center operations management. These additions have enabled government entities to source specialized services from trusted vendors, enhancing efficiency and transparency.
Top Procuring Ministries and High-Value Transactions
The Central Government ministries have been instrumental in driving GeM’s impressive GMV growth. The top five procuring ministries this fiscal year are:
- Ministry of Coal
- Ministry of Defence
- Ministry of Petroleum & Natural Gas
- Ministry of Power
- Ministry of Steel
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Among them, the Ministry of Coal leads with ₹1.63 lakh crore in transactions. Additionally, Coal PSUs have placed over 320 high-value bids worth approximately ₹42,000 crore, specifically for Handling and Transport Services.
From Essentials to High-Tech: GeM’s Expanding Portfolio
GeM has evolved from being a procurement platform for essentials like stationery and ration to facilitating the purchase of advanced technology systems, missile components, and high-value strategic items. This transformation highlights its role in meeting India’s technological and strategic procurement needs while ensuring transparency and efficiency.
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Efficiency at Scale: Record-Breaking Transactions
Since its inception, GeM has processed over 2.59 crore orders, with a cumulative GMV exceeding ₹11.64 lakh crore. In FY 2024-25, the platform set a new record by processing 49,960 orders in a single day, underscoring its scalability and operational efficiency.
GeM’s Future-Ready Vision
With a growing network of 1.6 lakh government buyers and 22.5 lakh registered sellers and service providers, GeM is at the forefront of building a transparent, technology-driven public procurement ecosystem. Its continuous reforms and category expansions are empowering government entities to handle high-value, complex transactions with ease.
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GeM’s milestone in FY 2024-25 reflects its commitment to fostering innovation, streamlining public procurement, and supporting India’s vision of a self-reliant and efficient economy