Procurement through govt's GeM portal crosses Rs 4 trn so far this fiscal

The procurement of goods and services through government's portal GeM has crossed Rs 4 lakh crore so far this fiscal due to higher buying activities by various ministries and departments, a senior government official said on Friday. The Government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all central government ministries and departments. "As of March 28, the procurement has crossed Rs 4 lakh crore. It is historic," GeM CEO P K Singh told reporters here. In 2021-22 the procurement value stood at Rs 1.06 lakh crore and it crossed Rs 2 lakh crore last financial year. He said that procurement of services from the portal has jumped from Rs 66,000 crore in 2022-23 to Rs 2.05 lakh crore so far this fiscal. Similarly, goods worth Rs 1.95 lakh crore have been bought from the platform till March 28 this fiscal. GeM has over 63,000 government buyer organisations and over 62 lakh sellers and service providers offering a wide range of