Govt e-marketplace records 10 times growth in procurement in last 3 years: Goyal
GeM recorded a gross merchandise value (GMV) of ₹2 trillion in fiscal year 2022-23. Cumulative GMV since its launch, in August 2016, stands at over ₹4.29 trillion Key Points
mintGeM: Amazon of public procurement surpasses 1 crore transactions
Ease of doing business for MSMEs: As of Tuesday, the total number of transactions or orders processed on gem stood at 1.50 crore by 68,620 buyer organizations from over 60 lakh sellers and service providers. Key Points
FinancialexpressCPSE purchases via gem portal hit Rs 1.37 lakh crore, beat entire FY23 level: Finmin
As of December 6 this fiscal year, central public-sector enterprises (CPSEs) have procured goods and services amounting to Rs 1,36,607 crore from the Government e-Marketplace (GeM) portal, marking a nearly 28% increase from the previous fiscal. About one-third of these purchases, valued at Rs 46,013 crore, were made from micro, small, and medium enterprises. Key Points
Economic TimesProcurement of services on gem platform grew 205 pc in 2023-24
New Delhi [India], March 29 (ANI): Procurement of services through the gem portal witnessed a staggering 205 per cent growth in the current financial year 2023-24, official data showed. Government e-Marketplace (GeM) has closed the current fiscal year on a high note, crossing the milestone of Rs 4 lakh crore in Gross Merchandise Value (GMV). […] Key Points
ThePrintGovt to organize workshops on online procurement in UP
The Buyer-Seller Workshops will start from 31 August 2023. The move will enhance the understanding of GeM’s functionalities among buyers and sellers in the state. Key Points
mint
Procurement from gem portal crosses Rs 2 lakh crore so far this fiscal
GeM has over 63,000 government buyer organisations and over 62 lakh sellers and service providers, offering a wide range of products and services. Currently, government departments, ministries, public sector units, state governments, and central armed police forces are allowed to carry out transactions through this portal. Key Points
Economic TimesGovernment e-Marketplace (GeM) witnesses staggering Rs 1 lakh crore procurement by CPSEs in FY 23-24
New Delhi [India], December 15 (ANI): In a feat of digital procurement, Central Public Sector Enterprises (CPSEs) have achieved a significant milestone by surpassing the Rs 1 lakh crore mark in just 6.5 months of the fiscal year 2023-24. According to a press release, this outstanding accomplishment reflects a remarkable 166 per cent increase over […] Key Points
ThePrintgem enabled govt to save over Rs 45,000 crore since 2016: Commerce ministry
The Indian government's e-procurement portal, GeM, has helped the government save over Rs 45,000 crore since its launch in 2016, according to the commerce ministry. The online marketplace platform has facilitated efficient procurement for government departments, organisations and PSUs. Key Points
Economic TimesGeM: MSMEs sold 88% more goods to govt in FY23 from previous fiscal; seller count crosses 60 lakh
Ease of doing business for MSMEs: Hailing GeM’s growth, Prime minister Narendra Modi tweeted on Friday, “Excellent! @GeM_India has given us a glimpse of the energy and enterprise of the people of India. It has ensured prosperity and better markets for many citizens.” Key Points
FinancialexpressPublic procurement: Check out latest procedure for sellers to register on gem portal here
Ease of doing business for MSMEs: So far, goods worth Rs 4.02 crore have been procured by nearly 68,000 buyer organisations from over 60 lakh sellers registered on the platform, of which 8.70 lakh are micro and small enterprise (MSE) sellers. Key Points
Financialexpress
Budget 2024: gem and jewellery industry calls for reduction in import duties on gold, cut and polished dia
Union budget 2024: The gem and Jewellery Export Promotion Council (GJEPC) has called on the Indian government to lower import duties on gold and cut and polished diamonds ahead of the Union Budget. The GJEPC believes that increased import taxes on polished and cut gemstones would lead to lower exports and fewer jobs in the jewellery sector, losing its competitive advantage to rival nations like China and Thailand. Key Points
Economic TimesIndia’s gem, jewellery exports decline 23.7pc to Rs 21,501.96 cr in March; marginally up in FY23
The total gem and jewellery exports during 2021-22 stood at Rs 2,93,193.19 crores (USD 39,331.71 million), the gem and Jewellery Export Promotion Council (GJEPC) said in a statement. Key Points
FinancialexpressFY24 services procurement from gem seen Rs 1.5 lakh crore
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 services procurement was just Rs 3,069 crore in 2019-20 but reached Rs 65,957 crore in FY23. Key Points
Economic Times