63 per cent of the total gross merchandise value of Government e-marketplace (GeM), surpassing INR 1 lakh crore in just 6.5 months of FY 202324. This marks 166 per cent increase in the CPSEs’ share of the total order value transacted through the platform in the April to November period of FY23, driven by tailored solutions provided by GeM to accommodate complex procurement.
There has been a consistent rise in the procurement of services by CPSEs with an increase from INR 37,600 crore (approx.) in FY 22-23 to INR 66,550 crore (approx.) in FY 23-24 (between April--November 2023). More than 240 CPSEs have emerged as pivotal contributors and actively engaged with GeM. In FY 22-23, GeM recorded and achieved an annual GMV of more than INR 2 lakh crore. In FY 23-24 alone, the sole procurement of CPSEs through GeM is projected at INR 2 lakh crore – nearly doubling its performance from the last fiscal year.
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