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Govt targeting Rs 50,000 crore public procurement through GeM in FY20
Apr-16-2019

The government is targeting public procurement worth Rs 50,000 crore through the commerce ministry's online marketplace--Government e-Marketplace (GeM)--during the current financial year (2019-20). In FY19, GeM touched Rs 17,325 crore mark in terms of value of transactions as compared to Rs 5,885 crore in the previous financial year and Rs 422 crore in 2016-17.

The commerce ministry has indicated that 2018-19 witnessed a four-fold increase in total value of transactions on the portal and a two-fold increase in the number of sellers on GeM. It also highlighted that over 8.8 lakh products were made available on its platform through a network of over two lakh sellers and service providers. It added that training of over 1.3 lakh buyers and sellers has been conducted across 28 states and Union Territories to enable them operate the platform seamlessly.

GeM was launched in August, 2016 to facilitate online procurement of common-use goods and services required by both central and state governments, organisations and public sector units. A memorandum of understandings (MoUs) have been signed with 12 banks for payment integration to facilitate a cashless and paperless payment system on the platform. Public procurement of the Central and State governments runs into over Rs 2 lakh crore annually.

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