- 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.