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Government e-Marketplace (GeM), India’s online procurement platform, is set to see a significant surge in its service procurement, reaching Rs 1.5 lakh crore this fiscal year from Rs 65,957 crore in FY23. Major users of the platform include Coal India NTPC Ltd, ONGC, and states like Gujarat and Uttar Pradesh, along with ministries such as coal and power.
Since its inception in 2016, GeM has been offering a wide range of services including manpower outsourcing, IT and medical services, group medical insurance, high-value medical equipment leasing, air international logistics service, hiring of chartered aircraft, examination service, and livestock insurance. The platform has also facilitated the registration of insurance companies and provides market research/survey services.
Coal India’s subsidiaries have been notable users of the platform with orders worth Rs 24,558 crore. The platform has successfully attracted over 62 lakh sellers and service providers and has over 63,000 government buyer organizations on board. In addition to its service procurement growth, GeM has achieved goods procurement worth Rs 1.10 lakh crore.
With this expansion in both goods and services procurement, GeM continues to play a critical role in streamlining the process for government purchases while providing a marketplace for sellers and service providers across the country.
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