Government e-Marketplace Orders: By completing transactions through the Government e-Marketplace (GeM) site worth over ₹1 lakh crore, the Ministry of Defence (MoD) has accomplished a noteworthy milestone. This accomplishment demonstrates MoD’s dedication to effective public expenditure in the defence industry.
The Ministry of Commerce and Industry released a press statement stating that this Gross Merchandise Value (GMV) milestone, which is the first of its kind for a central government agency, highlights the MoD’s dedication to reducing public spending in the Defence sector.
The GeM site has been essential in helping the MoD meet a variety of procurement demands, from basic necessities like eggs to vital defence purchases like missile systems.
Government e-Marketplace Orders
From basic goods to vital defence acquisitions, GeM has been instrumental in helping the MoD meet a variety of procurement objectives. Notably, Micro and Small Enterprises (MSEs) have received over 50% of the orders, totaling ₹60,593 Crore, helping India achieve its aim of self-reliance.
The procurement environment has seen a considerable transformation as a result of MoD’s early adoption of GeM and participation of Defence PSUs, which have further boosted procurement procedures and sales.
MoD has granted transactions of over ₹45,800 Crore through GeM in the current fiscal year alone, demonstrating the platform’s efficacy in accelerating procurement procedures.
The Ministry is the first central government organisation to surpass this startling threshold, demonstrating its unwavering commitment to optimising public spending in the defence industry, according to PK Singh, CEO of GeM. This significant achievement highlights the Ministry of Defence’s dedication and effort in embracing change and serving as a major force behind Prime Minister Shri Narendra Modi’s goal of an independent India.”
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A noteworthy accomplishment
According to the press release, MoD purchasers have granted Micro and Small Enterprises (MSEs) ₹60,593 Crore, or 50.7% of the overall orders, in keeping with GeM’s fundamental goal of maximising social inclusion and moving India’s economy closer to self-reliance.
MoD has been an early adopter of GeM from its establishment. According to the press release, the portal’s tremendous success has been made possible by the enormous faith that almost 19,800 MoD purchasers have placed in it around the nation, even in isolated, far-flung locations like the North-Eastern States, Leh-Ladakh, and other Island Territories.
GeM continues to offer cost-effectiveness and efficiency in government interactions with programmes like demand aggregation modules.
GeM optimises the advantages of large-volume procurement by combining demand for comparable items from several organisations, demonstrating its dedication to transforming government procurement procedures and promoting revolutionary change.
