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 government made it mandatory for all the departments and ministries to source goods and services from the GeM. 
• At present, the platform is open for procurement by all government buyers: central and state ministries, departments, public sector enterprises, autonomous institutions, local bodies, etc. Last year, the government gave its approval for expanding the mandate of GeM to allow procurement by Cooperatives as buyers on GeM.
• As per existing mandate, GeM is not available for use by private sector buyers. Suppliers (sellers) can be from across all segments: government or private.

Why in News?

• With fourth quarter of this financial year still awaiting its end, the integrated digital platform has recorded a Gross Merchandise Value of Rs 3 lakh crore, significantly surpassing the total GMV recorded at the end of the previous fiscal year i.e. Rs 2 lakh crore.  
• Furthermore, there has been a notable increase in the daily average GMV transaction value during this period, rising from Rs 504 crore in FY 22-23 to Rs 914 crore as of February 12, 2024.

https://pib.gov.in/PressReleasePage.aspx?PRID=2005344