GeM: Total procurement of goods and service crossed Rs 2 trillion.

Micro and small enterprises are getting major business from public procurement portal GeM and they are expected to sell goods and services worth over $ 20 billion by the end of this fiscal, a senior government official said on Monday.

The Government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all the central government ministries and departments.

GeM CEO P.K Singh said that the platform provides different support measures to these enterprises to increase their participation in government buying.

He stated that since 2016, micro and small businesses have accounted for 50% of all purchases of products and services. In the fiscal year 2016–17, purchases from these businesses totaled $5 million; in the fiscal year 2020–21, that amount increased to $5 billion, and this fiscal year, it will surpass $20 billion. He said that the portal provides business intelligence and data analytics services and information to firms that are correct, relevant and timely.

GeM has over 63,000 government buyer organisations and over 62 lakh sellers and service providers offering a wide range of products and services. Total procurement of goods and services from the platform has crossed Rs 2 trillion so far this fiscal. Currently, government departments, ministries, public sector units, state governments, and central armed police forces are allowed to carry out transactions through this portal. The portal provides a wide range of products from office stationery to vehicles, automobiles, computers and office furniture are some of the major product categories. Services, including transportation, logistics, waste management, webcasting and analytical, are listed on the portal.

South Korea's KONEPS is the largest such platform in the world.Currently, GeM stands at the third position after Singapore's GeBIZ.