Gross Merchandise Value on GeM portal grows by 136 pc (QoQ) in first quarter of FY25

New Delhi [India], July 12 (ANI): The Gross Merchandise Value (GMV) of orders at the Government e Marketplace (GeM) has clocked at Rs 1,24,761 Lakh crore at the end of first quarter (April-June).
According to the data by Ministry of Commerce and Industry, the Gross Merchandise Value (GMV) has registered a quarter-on-quarter growth of over 136 per cent compared to last year's GMV of Rs 52,670 Crore.
The ministry also highlighted on Thursday that in Q1 (April- June), FY 24-25 services segment has been the prime mover clocking a GMV of more than Rs 80,500 crore representing a growth of 330 per cent over corresponding period in FY 23-24.
"In Q1 FY 23-24, procurement by Central Government bodies stood at Rs 42,500 Crore. This FY has seen a substantial surge in their procurement. As key participants, Central bodies have continued to drive procurement reforms, reaffirming their commitment to optimising resource allocation for national development," said Prashant Kumar Singh, CEO, GeM.
The procurement on the portal by the Central Ministries including CPSEs (Central Public Sector Enterprises) surpassed Rs 1 Lakh crore milestone in this period with Ministries of Coal, Defence and Petroleum & Gas emerging as the top procurers.
The ministry also stated that GeM is planning to roll out 'GeM SAHAYAK' program which aims at creating a pan India network of around 7000 trained and certified accredited trainers who would then offer their services to potential and existing GeM Sellers in navigating on GeM and enhancing business opportunities. It added that buyers will also benefit from the services of these SAHAYAKS in terms of creation of bids and other value-added services.
The ministry added that to facilitate Ease of Doing Business on GeM, the portal has made drastic reduction in quantum of transaction charges levied on sellers.
As per the new Revenue policy of GeM, the sellers/ service providers will be charged only 0.30 per cent of the order value (previously 0.45 per cent) on orders with order value of more than Rs 5 Lakh, and these transaction charges would be capped at a maximum amount of Rs 3 lakh as against Rs 72.50 Lakh being charged earlier.
"This reduction in transaction charges levied on the GeM platform by almost 33 to 96 per cent would greatly benefit our Sellers and is likely to make their offerings more competitive in the marketplace" added P.K. Singh.
The ministry stated that GeM also launched its signature initiative called "The Aabhar Collection" as part of its 'Vocal for local' outlet store marketplace. It showcases over 120 exquisite and hand-crafted gift items and hampers, featuring select products from One District One Product (ODOP) and Geographical Indication (GI) categories with prices ranging from Rs 500 to Rs 25,000 to be used by government buyers for all their official events/ ceremonies etc.
The ministry also informed that during the quarter, the GeM portal also entered into MoUs (Memorandum of Understanding) with Dalit Indian Chamber of Commerce & Industry (DICCI), Assam Startup Nest and North Eastern Development Finance Corporation Limited (NEDFi) and have also conducted more than 320 training sessions for buyers and sellers across the country.
The portal recently-launched interactive and multilingual training courses also witnessed remarkable user registration with 1,172 Buyers and 3,393 Sellers enrolled in the courses within just four months since its launch.
The GeM portal was launched in 2016 with an ambitious goal of building a robust domestic e-procurement landscape, it has reformulated a previously fragmented system into a comprehensive one-stop-solution that is widely used by all government buyers and serviced by pan India network of sellers and service providers. (ANI)