GeM portal achieves Rs 9.82 lakh crore Gross Merchandise Value milestone
The milestone was announced by Union Minister of State for Commerce and Industry, Jitin Prasada, in a written reply to the Rajya Sabha on Friday.
ANI
Aug 09, 2024 23:04 IST
New Delhi [India], August 9 (ANI): The Government e-Marketplace (GeM) portal has surpassed a Gross Merchandise Value (GMV) of Rs 9.82 lakh crore as of July 30, marking a staggering 1000-fold growth since its inception.
According to the Ministry of Commerce and Industry, the milestone was announced by Union Minister of State for Commerce and Industry, Jitin Prasada, in a written reply to the Rajya Sabha on Friday.
In the Financial Year 2023-24, the Government e-Marketplace (GeM) achieved a Gross Merchandise Value (GMV) exceeding Rs 4 lakh crore, reflecting a nearly 1000-fold increase compared to the GMV of Rs 422 crore in FY 2016-17.
During FY 2023-24, GeM recorded over 62 lakh transactions, representing a similar 1000-fold growth from FY 2016-17. The total number of transactions on the GeM portal since its inception has exceeded 2.26 crore.
Since its launch, GeM has registered over 1.63 lakh women-led Micro, Small, and Medium Enterprises (MSEs), which have collectively fulfilled orders worth Rs 35,138 crore. Additionally, more than 25,000 startups have been registered on the portal, contributing a GMV of over Rs 27,319 crore.
The GeM SAHAYAK initiative aims to establish a network of certified trainers, known as SAHAYAKs, who will provide comprehensive support to sellers and buyers on the GeM portal. This initiative is designed to guide users through their journey on the platform with end-to-end services. (ANI)
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