Govt's e-marketplace GMV up 75%, to touch 3.5 trillion in FY24
Mint Mumbai|January 22, 2024
The gross merchandise value (GMV) of state-run government e-marketplace (GeM) may be up by 75% and touch 3.5 trillion in the current financial year, as government departments have been busy procuring goods and services through the portal, two persons said.

The expected GMV will be up by 1.5 trillion from the last fiscal's 2 trillion. Currently, the state-run procurement portal is offering a diverse range of 11,880 products and 320 services to its over 70,000 government clientele.

The GeM has experienced substantial growth in procurement of goods and services, reaching a milestone of ₹2.5 trillion and four million orders in FY2023-24 until the end of December, said one of the people cited above, speaking anonymously.

The procurement of services on GeM has experienced significant growth over the past two-three years, rising from 8,500 crore in FY2020-21 to 166,000 crore in FY2022-23. Within the first nine months of the current fiscal, the GMV of services had already exceeded ₹1.17 trillion, said this person.

Esta historia es de la edición January 22, 2024 de Mint Mumbai.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición January 22, 2024 de Mint Mumbai.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE MINT MUMBAIVer todo
Mint Mumbai

Premium the watchword for SBI as Q2 profits surge

Chairman says the bank will compete on quality of service, not on deposit rates

time-read
3 minutos  |
November 09, 2024
India eyes grants, loans for Global South at COP29
Mint Mumbai

India eyes grants, loans for Global South at COP29

India plans to leverage its climate commitments to pitch for grants and concessional loans, instead of investments for the Global South, at the upcoming climate negotiations in Baku, two people aware of the matter said.

time-read
2 minutos  |
November 09, 2024
Tata Steel's Q2 show weighed down by slow Europe revival
Mint Mumbai

Tata Steel's Q2 show weighed down by slow Europe revival

The September quarter (Q2FY25) earnings of Tata Steel Ltd had its share of positives even as European operations remain a drag.

time-read
2 minutos  |
November 09, 2024
Spectre of fall in revenue nixes telecom levy cut
Mint Mumbai

Spectre of fall in revenue nixes telecom levy cut

Indian telecom service providers' hopes to get relief from levies on adjusted gross revenue (AGR) might get dashed on the Union finance ministry's revenue concerns, according to two senior officials close to the discussions.

time-read
3 minutos  |
November 09, 2024
Zomato, Swiggy face CCI heat on antitrust violation
Mint Mumbai

Zomato, Swiggy face CCI heat on antitrust violation

An investigation by India's antitrust body found food delivery giants Zomato and SoftBank-backed Swiggy breached competition laws, with their business practices favouring select restaurants listed on their platforms, documents show.

time-read
2 minutos  |
November 09, 2024
Trump enters just as the Fed is shifting its focus
Mint Mumbai

Trump enters just as the Fed is shifting its focus

With its second consecutive interest-rate cut this year, the Federal Reserve is attempting to boost the odds of a soft landing.

time-read
4 minutos  |
November 09, 2024
Regulator gets staff to enforce drug quality
Mint Mumbai

Regulator gets staff to enforce drug quality

The govt is planning to fill 250 new positions to strengthen enforcement

time-read
2 minutos  |
November 09, 2024
Mint Mumbai

Govt unveils scheme for meditech industry

The government on Friday launched a scheme aimed at strengthening the medical devices industry with an initial outlay of ₹500 crore for three years 2024-2025 to 2026-27.

time-read
1 min  |
November 09, 2024
Mint Mumbai

RATAN TATA MADE INDIA A BETTER, KINDER PLACE

Shri Ratan Tata's support for the Swachh Bharat Mission was close to my heart

time-read
3 minutos  |
November 09, 2024
Ministry cancels allocation of coal block to JSW Steel
Mint Mumbai

Ministry cancels allocation of coal block to JSW Steel

The Union coal ministry has annulled the allocation of the Banai-Bhalumunda coal block in Chhattisgarh to Sajjan Jindal-led JSW Steel over the non-payment of a performance bank guarantee worth about ₹1,000 crore.

time-read
1 min  |
November 09, 2024