The Ministry of Defence (MoD), India achieved a significant milestone by becoming the only ministry to cross the figure of Rs 1 lakh crore Gross Merchandise Value (GMV) of procurement through Government e-Marketplace (GeM) since its inception in 2016.
In the current fiscal year, MoD has placed orders worth Rs 46,000 cr approx. on GeM as of 13.2.2024.
The order value of MoD in FY 2022-23 was worth Rs 28,732.90 cr, while it amounted to Rs 15,091.30 cr in the FY 2021-22.
The significant increase of over sixty percent from the previous financial year is a testament to MoD’s continuous efforts, commitment to adoption of GeM platform to undertake its procurement activities.
More than 19,800 defence buyers from across the country have placed over 5.47 lakh orders on GeM.
About 50% of these orders were awarded to Micro and Small Enterprises (MSEs), aligning with the core value of maximising social inclusion in public procurement market and bolstering India’s economic growth towards ‘Aatmanirbharta’.
GeM is an online platform for public procurement in India envisaged by Prime Minister Shri Narendra Modi.
This initiative was launched on August 9, 2016 by Ministry of Commerce and Industry with the objective of creating an inclusive, efficient, and transparent platform for the buyers and sellers to carry out procurement activities in a fair and competitive manner.
This milestone is a reflection of collaborative efforts by MoD, Armed Forces, PSUs, Defence industry, and research institutions.
It not only celebrates the success of GeM platform but also reaffirms the MoD’s dedication to bolstering national defence capabilities and securing a prosperous future for India.
Source: https://pib.gov.in/
