GeM Defence Procurement Hits ₹1.35 Lakh Crore Milestone
By Business Desk
India’s GeM platform achieves a significant milestone as defence procurement surpasses ₹1.35 lakh crore, representing 15% of total transactions. Announced by Piyush Goyal.
Defence procurement through the Government e-Marketplace (GeM) has officially exceeded ₹1.35 lakh crore, marking a significant milestone for the digital platform. This volume now accounts for nearly 15% of GeM’s total procurement activities.
Commerce and Industry Minister Piyush Goyal made this announcement during the celebration of GeM’s 10th anniversary. The platform facilitates the purchase of goods and services by various central and state government departments.
Key Performance Metrics
- Defence Procurement on GeM: ₹1.35 lakh crore
- Share of total GeM procurement: 15%
- Annual central & state government procurement via GeM: Exceeded ₹5 lakh crore
- Total transacted on GeM in a decade: Over ₹20 lakh crore
- Estimated savings over three years (IIT Delhi study): ₹86,571 crore
- Price reduction for 101 items on GeM compared to e-commerce: Approximately 74% lower
These figures underscore GeM’s growing role in streamlining public sector purchases and generating substantial savings for the government. The platform has demonstrated its efficiency in driving down costs across various procurement categories.
Platform Evolution and Future
The Government e-Marketplace is currently undergoing a significant revamp, with IT major TCS leading the modernization efforts. This upgrade aims to further enhance the platform’s capabilities and user experience.