MoD's Procurement On government E-Marketplace Crosses Rs 1 lakh Crore
It was launched on Aug. 9, 2016, by the commerce ministry with the objective of creating an inclusive and transparent platform for the buyers and sellers to carry out procurement in a competitive manner.
The defence ministry on Thursday said its procurement through the government e-Marketplace (GeM) has crossed the Rs one lakh crore 'milestone'.
The GeM is an online platform for public procurement in India.
It was launched on Aug. 9, 2016, by the commerce ministry with the objective of creating an inclusive and transparent platform for the buyers and sellers to carry out procurement in a competitive manner.
The defence ministry said it "achieved a significant milestone by becoming the only ministry to cross the figure of Rs 1 lakh crore Gross Merchandise Value (GMV) of procurement through Government e-Marketplace since its inception".
In the current fiscal year, the defence ministry has placed orders worth Rs 46,000 crore approximately on the GeM as of Feb. 13, officials said.
The order value of the ministry in 2022-23 was worth Rs 28,732 crore while it amounted to Rs 15,091 crore in 2021-22, they said.
Over 19,800 defence buyers from across the country have placed over 5.47 lakh orders on the GeM. About 50 per cent of these orders were awarded to the Micro and Small Enterprises (MSEs), aligning with the core value of maximising social inclusion in public procurement market and bolstering India's economic growth towards 'Aatmanirbharta', the defence ministry said in a statement.
"This milestone is a reflection of collaborative efforts by the defence ministry, armed forces, PSUs, defence industry and research institutions," the ministry said.
"It not only celebrates the success of GeM platform but also reaffirms the MoD's dedication to bolstering national defence capabilities and securing a prosperous future for India," it added.
