- 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?
- Government e-Marketplace (GeM) has reached a significant milestone by surpassing ₹2 Lakh Crore in Gross Merchandise Value (GMV) within less than eight months of the current fiscal year, surpassing the total GMV inscribed at the end of last fiscal year (2022-23).
- The average GMV per day has also witnessed significant growth and reached more than ₹850 crore per day in the current Financial Year.