The Government e-Marketplace (GeM) platform has seen more than ₹1 lakh crore in transactions from the Ministry of Defence (MoD). As the first central government agency to accomplish this feat, the MoD is setting a pattern for efficient public spending within the Defence sector with this milestone, also known as Gross Merchandise Value (GMV).
The Ministry of Commerce and Industry released a press statement stating that the GeM site has been instrumental in simplifying and meeting the MoD’s various procurement requirements. These range from basic store items like eggs to vital defence acquisitions like missile systems.
A paradigm shift in the defence procurement landscape has occurred as a result of the MoD’s early adoption of GeM and its interaction with Defence Public Sector Undertakings (PSUs), which have greatly improved sales and procurement procedures.
The MoD granted transactions through GeM worth about ₹45,800 crore alone in the current fiscal year, showing the platform’s efficiency in accelerating procurement procedures and boosting efficiency in government transactions.
This noteworthy accomplishment demonstrates the Ministry of Defence’s commitment to transformation and its role as a driving factor behind Prime Minister Shri Narendra Modi’s vision of an independent India.
In keeping with GeM’s central goal of maximising social inclusion, MoD buyers have given Micro and Small Enterprises (MSEs) ₹60,593 crore or 50.7% of the overall orders. This moves India closer to becoming self-sufficient while also fostering the expansion of MSEs.
The MoD has been an early adopter of GeM since its founding, winning the confidence of about 19,800 MoD consumers nationwide, including isolated regions like the Northeastern States, Leh-Ladakh, and several island territories.
The participation of Defence PSUs on the GeM platform has changed the procurement environment even more by facilitating sales growth in addition to procurement.
