GeM Smashes Records: ₹5 Lakh Crore Milestone Achieved Early

The Government e-Marketplace (GeM) has made history, crossing ₹5 lakh crore in Gross Merchandise Value (GMV) for the financial year 2024-25. The Ministry of Commerce and Industry announced this remarkable feat, achieved 18 days ahead of schedule. This milestone highlights GeM's pivotal role in transforming public procurement in India.

Reforms and Technology Propel GeM to ₹5 Lakh Crore Milestone

GeM has cemented its place as India’s most efficient public procurement platform, supporting over 1.6 lakh government buyers. The platform's GMV surged from ₹4 lakh crore to ₹5 lakh crore in less than 50 days, following the earlier milestone reached on January 23, 2025. This remarkable acceleration underscores GeM's ability to streamline government purchases with speed, transparency, and efficiency.

Policy Reforms Driving Success

A series of policy reforms have been instrumental in GeM’s rapid growth:

• Lower Transaction Costs: Businesses now find selling on GeM more affordable.
• Reduced Vendor Assessment Fees: Simplified onboarding for new sellers.
• Relaxed Caution Money Requirements: A significant relief for startups, Micro and Small Enterprises (MSEs), and women-led businesses.

By February 13, 2025, over 22 lakh sellers and service providers had registered on GeM. The expanded seller base has enriched the platform with a wide range of products and services, enhancing engagement for government buyers.

Inclusive Growth through SWAYATT

GeM also plays a crucial role in promoting inclusivity through the SWAYATT initiative, which supports startups, women entrepreneurs, and youth. On its sixth anniversary, GeM reported:

• Over 29,000 startups gaining access to government contracts.
• 1.8 lakh Udyam-verified women-led businesses actively participating on the platform.

These initiatives demonstrate GeM’s commitment to empowering traditionally underrepresented groups, offering a unique opportunity to grow and scale through stable government contracts.

Technology Powering Transformation

Beyond policy measures, technology has been a game-changer for GeM. In FY 2024-25, the platform successfully completed one of the largest cloud migrations by any government agency in India. This digital shift has significantly enhanced:

• Scalability: Handling rapidly increasing transactions.
• Security: Safeguarding buyers and sellers.
• User Experience: Smoother and faster interactions.

The cloud infrastructure enables real-time data processing, advanced analytics, and faster procurement cycles, eliminating inefficiencies and manual errors. By leveraging modern technology, GeM has made public procurement more reliable and transparent than ever before.

Building the Future of Procurement

Launched on August 9, 2016, by the Ministry of Commerce and Industry, GeM is founded on three key principles: openness, fairness, and inclusiveness. It promotes fair competition, ensures equal opportunities for sellers, and encourages participation by startups, MSMEs, and women entrepreneurs.