FY24 procurement target through GeM likely to set at Rs 2.5 trillion

The next growth is expected to come from works contract, services and states

The Centre is eyeing Rs 2.5 trillion worth of procurement through its government e-marketplace (GeM) portal in the ongoing financial year, a 25% jump from the Rs 2 trillion mark attained in financial year 2023.

The GeM portal was launched in 2016 to bring transparency in procurement by all central government ministries and departments. Union Commerce and Industry Minister Piyush Goyal has also appealed to vendors to join GeM in large numbers so that they too get a chance to participate in the government procurement process.

The total procurement through the government portal in the financial year 2023 stood at