Procurement of goods and services from government portal, GeM has touched ₹50,000 crore-mark in the first quarter of this fiscal year. This is a strong growth over same period last fiscal.
Speaking at the sidelines of an event organised by CII, Government e-Market (GeM) Chief Executive Officer PK Singh said, “Even as there a few days left for the first quarter to get over, we have procurement of orders worth about ₹50,000 crore has been done. Even though first quarter is usually is slower for public procurements, this is a 1.5x growth over same period last year. This indicates strong growth.”
The Government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all the central government ministries and departments. In 2022-23, procurement of goods and services from the portal crossed ₹2 lakh crore.
Singh added TCS has recently bagged the contract as the new service-provider for running and maintaining the GeM portal. “ We will leverage on the learnings of the past six years to make a new portal, which is far more efficient, smooth and effective,” he added.
Meanwhile, a functionality enabling public procurement portal GeM to impose penal interest on delayed payments to vendors will also get operational in July.