E-marketplace

The company also reduced its net loss by 28 per cent during the year to Rs 3,469 crore, showed financial data sourced from business intelligence firm Tofler

GeM is in the process of finalising a proposal and sending it to the commerce and industry ministry that will thereafter seek the union Cabinet's approval

The procurement of goods and services from the government portal GeM has crossed Rs 2 lakh crore so far this fiscal due to higher buying activities by different ministries and departments. 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. "Gem of a landmark! Government e-Marketplace achieves an impressive Rs 2 lakh crore gross merchandise value in just eight months of 2023-24," Commerce and Industry Minister Piyush Goyal said on social media platform X. In 2021-22, the procurement value stood at Rs 1.06 lakh crore. It crossed Rs 2 lakh crore last year, and going by the trend this year, it may cross Rs 3 lakh crore. GeM has over 63,000 government buyer organisations and over 62 lakh sellers and service providers, offering a wide range of products and services. Currently, government departments, ministries, public sector units, state governments, and central armed

Procurement through GeM exceeds over Rs. 18,790 crore in FY 2023-24

GeM was integrated with SAHAY to launch the GeM-SAHAY app over two years ago, to address the credit availability challenges faced by sole proprietors on GeM

GeM acts as an end-to-end online marketplace for central, state govt bodies, including PSUs

Provision of penal interest on delayed payments to start from July

On March 30, GeM completed five million transactions in a single financial year for the first time ever

To acquire majority stake in OZiva maker, 19.8% in Nutritionalab

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Cumulatively, GeM has surpassed GMV worth Rs 3 trillion since inception and the number of transactions on GeM exceeded 12 million

G20 Presidency an opportunity to showcase ODOP products

New demographic joining information superhighway, he says at Bengaluru Tech Summit

More than 400 cooperative societies have registered on the Government e-Marketplace (GeM) portal in last three months, Union Minister B L Verma said on Monday. On June 1, the Union Cabinet had given its approval for expanding the mandate of GeM to allow procurement by cooperatives as buyers on GeM. But it was on August 9, the cooperatives were formally onboarded the portal. "So far, more than 400 cooperatives have registered on the GeM portal and begun the trade," the Minister of State for Cooperation said. He was addressing the 69th All India Cooperative Week organised by National Cooperative Union of India (NCUI) here. Organic products, especially from North-East do not find a right market. Be it organic or other products, cooperatives can sell these items on the GeM portal, he added. Besides this, the minister said the government has taken several measures to strengthen and expand cooperatives since formation of a new cooperation ministry in July 2021. On setting up of a new .

Flipkart's operating loss or EBITDA (earnings before interest, taxes, depreciation, and amortisation) loss stood at Rs 3,925 crore, which was up from Rs 2,267 crore in the previous fiscal

The JioBook is currently available for government department employees via the GeM at Rs 19,500. For others, it is expected to be available around Diwali

The Centre has incrementally been expanding the GeM shopping basket by offering over 300 services and 10,000 goods categories for government sector buyers

Reliance Retail's digital commerce arm has been onboarding additional sellers across categories

The decision is expected to help cooperatives in getting competitive prices through an open and transparent process

The platform has a 60% share in this space, with Reliance Jiomart being the only other dominant player