In a groundbreaking achievement, the Ministry of Defence (MoD) has set a new benchmark by surpassing the monumental figure of Rs 1 lakh crore Gross Merchandise Value (GMV) of procurement through the Government e-Marketplace (GeM) since its inception in 2016.
This remarkable feat underscores MoD’s unwavering commitment to modernizing procurement practices and leveraging digital platforms to enhance efficiency and transparency.
In the current fiscal year alone, MoD has placed orders worth approximately Rs 46,000 crore on GeM as of February 13, 2024. Contrasting with the order value of Rs 28,732.90 crore in the FY 2022-23 and Rs 15,091.30 crore in the FY 2021-22, this substantial increase of over sixty percent exemplifies MoD’s relentless efforts in embracing the GeM platform for procurement activities.
With more than 19,800 defence buyers from across the country participating, GeM has witnessed over 5.47 lakh orders being placed.
A significant aspect of this achievement is that approximately 50% of these orders were awarded to Micro and Small Enterprises (MSEs), aligning with the core objective of promoting social inclusion in public procurement and bolstering India’s economic self-reliance.
GeM, conceptualized as an online platform for public procurement in India by Prime Minister Shri Narendra Modi, has emerged as a beacon of inclusive, efficient, and transparent procurement practices.
Launched on August 9, 2016, by the Ministry of Commerce and Industry, GeM has revolutionized the procurement landscape, providing buyers and sellers with a fair and competitive marketplace to conduct transactions.
This milestone represents a collective effort involving MoD, Armed Forces, Public Sector Undertakings (PSUs), Defence industry, and research institutions.
It not only celebrates the success of the GeM platform but also reaffirms MoD’s steadfast commitment to strengthening national defence capabilities and fostering a prosperous future for India.
The achievement underscores the transformative impact of digital initiatives in streamlining procurement processes, enhancing accountability, and driving economic growth. As India continues its journey towards self-reliance and technological advancement, initiatives like GeM serve as catalysts for innovation and inclusive development across sectors.
