Government e-Marketplace Surpasses ₹1 Trillion GMV Milestone in Record 145 Days of FY 2023-24

Government e-Marketplace (GeM) has achieved an impressive milestone, crossing INR 1 lakh crore (₹1 Trillion or US$ 1,000 Billion) in Gross Merchandise Value (GMV) within a remarkable span of 145 days in the current financial year, FY 2023-24. GeM has achieved this feat through accelerated growth, increased efficiency and unwavering trust.

Government e-Marketplace is a 100% Government owned Section 8 company setup under the aegis of Department of Commerce, Ministry of Commerce and Industry for procurement of common use goods and services by government ministries, departments and CPSEs

In previous year, this GMV landmark was reached in 243 days. The average GMV per day has also witnessed significant growth from INR 412 crore per day in FY 22-23 to INR 690 crore per day in FY 23-24.

This notable milestone firmly establishes GeM as one of the largest public procurement portals globally, both in terms of transaction value and the breadth of the buyer-seller network within its unified digital ecosystem. Since inception, GeM has crossed INR 4.91 Lakh Crore in GMV and has facilitated over 1.67 crore orders on the platform.

Among the noteworthy contributors to this remarkable GMV achievement, the contribution of Central Public Sector Enterprises (CPSEs), Central Ministries and State Governments has been 54%, 26% and 20% respectively.

Additionally, GeM's efforts to foster inclusivity and accessibility have been commendable. The platform's integration with e-Gram Swaraj to streamline Panchayat-level procurement exemplifies its commitment to reaching last-mile sellers and optimizing costs at the grassroots level of administration.

Looking ahead, GeM's vision encompasses a wider federal reach, customized processes, and policies that will enhance public savings while upholding the highest quality standards for products and services. Its remarkable performance in achieving the INR 1 lakh crore GMV milestone within an accelerated time frame not only reflects its growth trajectory but also solidifies its position as the key player in transforming government procurement practices in the country.

The past financial year concluded with a GMV of INR 2 lakh crore, setting a formidable foundation for this year's achievement. GeM's strategic focus in FY 2023-24 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.

The platform's integration with e-Gram Swaraj to streamline Panchayat-level procurement exemplifies its commitment to reaching last-mile sellers and optimizing costs at the grassroots level of administration.

Looking ahead, GeM's vision encompasses a wider federal reach, customized processes, and policies that will enhance public savings while upholding the highest quality standards for products and services. Its remarkable performance in achieving the INR 1 lakh crore GMV milestone within an accelerated time frame not only reflects its growth trajectory but also solidifies its position as the key player in transforming government procurement practices in the country.

The past financial year concluded with a GMV of ₹2 lakh crore, setting a formidable foundation for this year's achievement. GeM's strategic focus in FY 2023-24 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.

With a vast assortment of over 30 lakh listed products and an impressive portfolio of over 300 service categories, GeM is well-equipped to meet the diverse product and service needs of government departments nationwide. Consequently, the platform has also witnessed a substantial surge in orders from various State Governments and affiliated entities, firmly establishing GeM as a go-to solution for government procurement.

About GeM:

Government e-Marketplace (GeM) is an online public procurement portal developed facilitate the procurement of goods and services by various government departments, agencies, and public sector undertakings. It was launched in August 2016 as a part of the government's "Digital India" initiative to bring transparency, efficiency, and cost-effectiveness to public procurement. GeM aims to simplify the public procurement process, reduce paperwork, and promote the use of digital technology for government procurement.

Kuehne+Nagel Named Best Freight Forwarder By Ministry of Commerce and Industry

Hosted by the Ministry of Commerce and Industry, Government of India, the first ever National Logistics Excellence Awards recognise the contributions of the private sector

Kuehne+Nagel won amidst 169 submissions across 12 categories from logistics companies in India

Kuehne+Nagel, the leading global logistics service provider, was named Best Freight Forwarder at India's first National Logistics Excellence Award, held in New Delhi by the Ministry of Commerce & Industry, Government of India.

The awards are intended to spotlight the change-makers driving innovation and transformation in the logistics sector in the country. The Ministry of Commerce and Industries undertook a year-long process of identifying, categorizing, and selecting qualified applications from 169 entries in 12 award categories.

Mr. Piyush Goyal, Union Minister for Commerce & Industry, Consumer Affairs, Food and Public Distribution and Textiles, presented the award while commending the logistics industry's efforts during the Covid-19 outbreak by developing resilient and efficient supply chains, overcoming the challenges of the pandemic and supporting trade growth as seen over the last two years. Kuehne+Nagel won the award amidst stiff competition from logistics companies in India.

Mr. Coen van der Maarel, Managing Director – India, Sri Lanka and Maldives at Kuehne+Nagel, comments: “We are very pleased to have won the accolade. Among the pandemic's vulnerabilities and challenges, the award is a huge recognition and encouragement for our team and a testament to all of our efforts to deliver consistent, reliable and timely services to our valued customers.”

Kuehne+Nagel provides integrated logistics solutions across sea logistics, air logistics, road logistics, and contract logistics from a team of highly experienced professionals.

About Kuehne+Nagel

With over 78,000 employees at almost 1,300 sites in over 100 countries, the Kuehne+Nagel Group is one of the world’s leading logistics providers. It operates in sea logistics, air logistics, road logistics and contract logistics, with a clear focus on integrated logistics solutions.

Comm Ministry to Create Big Data & AI-enabled Data Management and Research Unit

The Commerce Ministry is in the process of restructuring its Directorate General of Commercial Intelligence and Statistics (DGCI&S) for creating a new Data Management and Research Unit (DMRU), sources said.

The Kolkata-based DGCI&S is an organisation for collection, compilation and dissemination of India's merchandise trade statistics and commercial information. Sources said that to bridge issues of data management and analysis being out of sync with policy related requirements, a complete integration is necessary.

The DGCI&S compiles and releases monthly export & import data on merchandise trade. It also compiles and releases yearly data on inter-state movement of goods in India by river, rail & air and customs & excise revenue collections of the Indian union, inland coasting trade consignments of India and foreign coastal cargo movements of India.

Private users can obtain data from DGCI&S through its web based system and on payment basis.

The entire organization of DMRU will be placed in New Delhi, and there will be a comprehensive revamp of IT system and data management. As per the plan there will be two stages of implementation, they added.

While the first stage will address data access for official use and migration into a cloud-based server system, the second stage will be a comprehensive revamp of data collection and processing.

The implementation of commercial intelligence operations will be moved to the Directorate General of Foreign Trade (DGFT).

"As per the plan, DGCI&S will be merged with the department of commerce and it will be replaced by DMRU," sources added.

Further, DMRU will build capabilities in big data analysis, deployment of artificial intelligence and it will be responsible to bring data driven policy making in the department.

It will also work closely with DGTR (Directorate General of Trade Remedies) and DGFT to build capabilities in trade defense, fraud prevention as well as data led export promotion.

The new unit will integrate with trade commissioners at various Indian embassies and territorial divisions with a view to systematically and regularly collect inputs regarding commercial opportunities abroad and create a portal based access restricted to Indian business persons.

Besides, it will collect trade and commercial intelligence about non-tariff barriers faced by Indian imports, information about government subsidies, intelligence about dumping and circumvention and disseminate the same to relevant wings of the department of commerce and line ministries based on the need.

"DMRU will be responsible to set up data exchange mechanisms with other departments and ministries for trade related data. It shall build data repositories by setting up exchanges with GSTN as well as line ministries responsible for administration of different industrial sectors," sources said.

It will also be responsible to set up data exchange mechanisms with partner countries and international organisations. There will be a total of 17 Group A officers in the new unit.

On the need for the new unit, sources added that considerable mismatches have been detected in DGCI&S data. It was also not capturing data related to trans-shipments, last known country of destination and other vital data for policy making.

The institution originated in pre-independent India in 1871 and is located in Kolkata.

~ With Inputs from PTI