The Government e-Marketplace (GeM) surpassed ₹5 lakh crore in gross merchandise value (GMV) on its portal, more than 18 days before the close of the current financial year 2024-25, the Centre said on Monday.&nbsp;
Notably, the leap from ₹4 lakh crore to ₹5 lakh crore was accomplished in less than 50 days since crossing the previous benchmark on January 23, 2025. As of February 13, over 22 lakh sellers and service providers were registered on GeM, contributing to a diverse and competitive procurement ecosystem.&nbsp;
With a steadfast commitment to transparency and fiscal responsibility, GeM has facilitated cumulative public savings exceeding ₹1,15,000 crore.&nbsp;
The platform has over 1.6 lakh registered government buyers, spanning central and state ministries, departments, public sector enterprises, panchayats, and cooperatives, further driving the adoption of digital procurement across all levels of governance.&nbsp;
This achievement highlights GeM's rapid expansion, serving a buyer base of over 1.6 lakh government entities, according to the Ministry of Commerce and Industry. 
GeM has undertaken major policy reforms in recent months to enhance market accessibility and streamline participation for sellers. Key initiatives such as the reduction in transaction charges, vendor assessment fees, and caution money requirements have made the platform more accessible, particularly benefiting micro and small enterprises (MSEs), startups, and women-led enterprises. 
This year also marks the sixth anniversary of SWAYATT (Startups, Women, and Youth Advantage Through eTransactions), an initiative that underscores GeM&rsquo;s commitment to integrating priority seller groups into the government procurement framework. 
GeM has successfully onboarded over 29,000 startups and 1.8 lakh Udyam-verified women-led businesses (as of February 13, 2025), fostering greater inclusivity and economic empowerment.&nbsp;
In addition to policy enhancements, technological advancements have played a crucial role in boosting procurement efficiency. In FY 2024-25, GeM executed one of the largest cloud migrations by a government organisation in India.&nbsp;
This migration is expected to enhance the platform&rsquo;s scalability, ensuring a secure, reliable, and seamless experience for both buyers and sellers.&nbsp;
&mdash;IANS
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Digital marketplace growth, government procurement, financial milestone

GeM boosts MSEs, startups with reduced charges & policy reforms

GeM Surpasses ₹5 lakh cr GMV Before FY25 Ends

GeM boosts MSEs, startups with reduced charges & policy reforms

March 17, 2025 | 20:55 IST