New Delhi (thestates.news)| The Ministry of Defence (MoD) achieved a significant milestone by becoming the only ministry to cross the Rs 1 lakh crore Gross Merchandise Value (GMV) of procurement through Government e-Marketplace (GeM) since its inception in 2016. According to the Ministry statement, in the current fiscal year, MoD has placed orders worth around Rs 46,000 crore on GeM as of 13.2.2024.
The order value of in FY 2022-23 was worth Rs 28,732.90 crore, while it amounted to Rs 15,091.30 crore in the FY 2021-22. The significant increase of over 60 percent from the previous financial year is a testament to MoD’s continuous efforts, commitment to adoption of GeM platform to undertake its procurement activities.
More than 19,800 defence buyers from across the country have placed over 5.47 lakh orders on GeM. About 50% of these orders were awarded to Micro and Small Enterprises (MSEs), aligning with the core value of maximising social inclusion in public procurement market and bolstering India’s economic growth towards ‘Aatmanirbharta’. This milestone is a reflection of collaborative efforts by MoD, Armed Forces, PSUs, Defence industry, and research institutions.
GeM is an online platform for public procurement in India and was launched on August 9, 2016 by Ministry of Commerce and Industry with the objective of creating an inclusive, efficient, and transparent platform for the buyers and sellers to carry out procurement activities in a fair and competitive manner.(UNI)
Defence Ministry’s procurement on GeM crosses Rs 1 lakh cr
