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Amid accelerated growth, increased efficiency and unwavering trust, Government e-Marketplace (GeM) crossed Rs 1 lakh crore Gross Merchandise Value (GMV) within a remarkable span of 145 days in the current financial year (FY24). The average GMV per day has also witnessed significant growth from Rs 412 crore per day in FY23 to Rs 690 crore per day in FY24.

This outstanding achievement underscores GeM's commitment to revolutionizing government procurement and signifies a substantial improvement compared to the previous year, where this GMV landmark was reached in 243 days. Since inception, GeM has crossed Rs 4.91 lakh crore in GMV and has facilitated over 1.67 crore orders on the platform.

The past financial year concluded with a GMV of Rs 2 lakh crore, setting a formidable foundation for this year's achievement. Strategic focus of GeM in FY24 centers on expanding its reach by integrating government buyers across all tiers into its robust e-procurement infrastructure. The portal's extended range of service offerings has contributed significantly to its widespread adoption during this period.

Meanwhile, GeM is an online public procurement portal developed to facilitate the procurement of goods and services by various government departments, agencies, and public sector undertakings. GeM aims to simplify the public procurement process, reduce paperwork, and promote the use of digital technology for government procurement.