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TMI BlogGovernment e Marketplace Surpasses 5 Lakh Crore GMV Before FY 2024-25 Year-EndX X X X Extracts X X X X X X X X Extracts X X X X ..... Government e Marketplace Surpasses 5 Lakh Crore GMV Before FY 2024-25 Year-End X X X X Extracts X X X X X X X X Extracts X X X X ..... more than 18 days before the close of the financial year 2024-25. This achievement highlights GeM's rapid expansion as a primary tool for public procurement, serving a buyer base of over 1.6 lakh government entities. Notably, the leap from ₹4 lakh crore to ₹5 lakh crore was accomplished in less than 50 days since crossing the previous benchmark on 23rd January 2025. GeM has undert ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aken 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. As of 13th February 2025, ove ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 22 lakh sellers and service providers are registered on GeM, contributing to a diverse and competitive procurement ecosystem. This year also marks the sixth anniversary of SWAYATT (Startups, Women, and Youth Advantage Through eTransactions), an initiative that underscores GeM's commitment to integrating priority seller groups into the government procurement framework. As of 13th February 2025, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... GeM has successfully onboarded over 29,000 startups and 1.8 lakh Udyam-verified women-led businesses, fostering greater inclusivity and economic empowerment. 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 organization in India. This migrati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on is expected to enhance the platform's scalability, ensuring a secure, reliable, and seamless experience for both buyers and sellers. Further improving user accessibility, the integration of AI-powered search capabilities through GeM AI has enabled stakeholders to make faster and more informed procurement decisions. GeM AI continuously analyzes platform data to provide real-time, accurate, and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... credible responses, ensuring users have access to critical procurement insights anytime, anywhere. With a steadfast commitment to transparency and fiscal responsibility, GeM has facilitated cumulative public savings exceeding ₹1,15,000 crore. The platform has over 1.6 lakh registered government buyers, spanning central and state ministries, departments, public sector enterprises, panchayats ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , and cooperatives, further driving the adoption of digital procurement across all levels of governance. As GeM continues its trajectory of growth, it remains dedicated to fostering innovation, expanding inclusivity, and delivering unparalleled value to buyers while strengthening market linkages for sellers. Through technological advancements and a transparent marketplace, GeM is reinforcing Indi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a's public procurement ecosystem and contributing to the nation's economic progress. X X X X Extracts X X X X X X X X Extracts X X X X
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