About GeM 

• Launched in 2016, the Government e-Marketplace (GeM) is a 100 percent government-owned company setup under the aegis of the Ministry of Commerce and Industry.
• It is a completely paperless, cashless and system driven e-market place that enables procurement of common use goods and services with minimal human interface. GeM aims to enhance transparency, efficiency and speed in public procurement.
• GeM was developed with the technical support of the National eGovernance Division under the Ministry of Electronics and Information Technology.

• In 2017, the Central government made it mandatory for all the departments and ministries to source goods and services from the GeM.

Why in News?

• Government e-Marketplace (GeM) is targeting annual procurement worth ₹2 lakh crore during FY23, following a buoyancy in its adoption.
• The cumulative gross merchandise value (GMV) till date is ₹2.86 lakh crore.

Reference:

1. https://www.thehindu.com/business/Industry/gem-eyes-procurement-of-2-lakh-crore-in-fy23/article65815037.ece