Govt targets Rs 50,000-crore of public procurement through GeM in FY20

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  1. India’s public procurement portal Government e-marketplace (GeM) has witnessed a multifold increase in transactions in a single year.The commerce ministry has set a target of Rs 50,000 crore in 2019-20, ultimately hitting Rs 1 trillion worth of procurements by 2021.
  2. Government e Marketplace is an online marketplace setup in 2016 for procurement of commonly used goods and services by government ministries,departments and CPSEs.It aims to enhance transparency, efficiency and speed in public procurement.
  3. GeM has been envisaged as National Procurement Portal of India.It functions under Directorate General of Supplies and Disposals (DGS&D),Ministry of Commerce and Industry.
  4. GeM is a completely paperless,cashless and system driven e-marketplace that enables procurement of commonly used goods and services with minimal human interface.