Supreme Court: Rape Conviction Possible Without S.376 Charge if POCSO Case Fails on Age Proof  ||  SC: Mere Long Possession Can't Establish Adverse Possession; Hostile Intent is Required  ||  Supreme Court Finds Gaps in FSSAI’s Proposed Warning Labels for Foods High in Fat, Sugar and Salt  ||  Supreme Court Quashes ITS Officer's 'Deadwood' Retirement, Orders Rs. 15 Lakh Payment  ||  Uttarakhand HC: District Magistrate to Establish Public Helpline within 24 Hrs amid Water Pollution  ||  Allahabad HC: Custodial Violence and Molestation Are Crimes, Not Police Duty  ||  Gujarat High Court: Bombay Public Trust Registration is Covered by Section 43 of the Waqf Act  ||  J&K&L HC: Advocates not Above Law, No Immunity from Lawful Police Inquiry  ||  Gauhati HC: Talaq-e-Hasan Valid, Requires Registration under Assam Marriage Act  ||  NCLAT: NCLT President Empowered to Transfer Cases from One Bench to Another    

Government e-Marketplace (GeM) witnesses remarkable growth in Service Procurement - (01 Nov 2023)

Commercial

Over the past few years, Government e-Marketplace (GeM) has achieved significant milestones in the procurement of services. GeM, India's leading online platform for government procurement, witnessed an extraordinary increase in the transaction value, reinforcing its commitment to streamlining the procurement process and fostering efficiency and transparency in government purchases.

GeM's robust growth in service procurement has been nothing short of remarkable. Over the last two to three years, the transaction value has surged from approximately INR 8,505 crore in FY 20-21 to an impressive INR 65, 957 crore in FY 22-23. The services sector has exhibited a staggering increase in the overall contribution to GeM Gross Merchandise Value or the total order value transacted through the platform, having jumped from 23% in FY 21-22 to nearly 47% in the current financial year. GeM has set a forward-looking target of surpassing INR 1.50 lakh crore in the current fiscal year.

This unprecedented success can be attributed to the active involvement of top Government buyers from various sectors. Leading Central Public Sector Enterprises (CPSEs) such as Coal India Limited, NTPC Limited, Oil and Natural Gas Corporation Limited, and Bharat Petroleum Corporation Limited have actively leveraged GeM for their service procurement needs. Furthermore, a multitude of states and union territories, including Gujarat, Uttar Pradesh, Delhi, Uttarakhand, and Punjab, have embraced GeM as their go-to platform for services procurement. GeM continues to drive high-value service bids. Also, there are multiple ongoing High value bids in the service categories like Warehousing Service, IT Services, Hiring of Vessels, Handling, Transport & other Mining Services.

Tags : GEM   GROWTH   SERVICE PROCUREMENT  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved