GeM Becomes India’s First e-Commerce Portal Crosses Transaction Value of INR 80k Crore

For financial year 2020-21, the government procurement from micro and small enterprises was worth Rs 23,424 crore.

Within four and a half years of its launch, the marketplace has crossed the 10-lakh-seller milestone.

As of January 27, 2020, the Government eMarketplace (GeM), listed 10,13,448 sellers and service providers across over 13,000 product and 178 service categories, as per the data sourced from the marketplace.

The GeM was launched on August 9, 2016 and has processed 55.74 lakh orders with the transaction value crossing the Rs 80,000-crore mark, becoming the largest e-commerce marketplace in the country.

The portal witnessed increase in micro and small sellers from 66,000 in January 2020 to over 4.71 lakh in January 2021. This has led to a jump in their share from 22% to 46. 5% of the total seller count during the said period. The value of orders processed by these micro and small sellers was 57.90% at the time of filing this report.

The government in partnership with SBI has been working on launching a B2C e-commerce marketplace Bharat Craft for MSMEs to market and sell their products in India and internationally like platforms such as Amazon and Alibaba.

The government procurement from micro and small enterprises, as per public procurement policy monitoring portal MSME Sambandh, as of January 27, 2020, was worth Rs 23,424 crore. The goods were procured from over 1.11 lakh MSEs while procurement from SC/ST and women-owned enterprises was worth Rs 446 crore and Rs 469 crore, respectively. The overall procurement from government enterprises and departments in the financial year 2020-21 so far stood at Rs 73,933 crore.

Source: IBEF