Government e-Marketplace eyes orders worth Rs 1 lakh crore in FY22
Orders on the GeM increased to Rs 37,000 crore in FY21, from Rs 23,000 crore in FY20
March 12, 2021 / 10:44 AM IST
Government e-Marketplace (GeM) is eyeing an order book of Rs 1 lakh crore in FY22, nearly triple the number recorded in 2020-21.
GeM is looking to achieve this target by merging its operations with the Integrated Material Management System and the Indian Railway Electronic Procurement System (IRePS), according to a Mint report.
Orders on the online marketplace for public procurement increased to Rs 37,000 crore in FY21, from Rs 23,000 crore in FY20, as per the report. GeM has recorded a compounded annual growth rate (CAGR) of 93 percent since its launch in August 2016.
"This shows acceptability of the buyers of both the state and central government organizations and their confidence in the usability of the portal," Talleen Kumar, chief executive officer, GeM, said as quoted by the paper.
Kumar said the portal has already implemented the unified procurement system, which was announced during the Budget for FY21.
"We have integrated with the central public procurement portal to have a single user experience and now integrating with the Indian railways electronic procurement system so that railways can seamlessly place their bids on the GeM. We will complete the integration process by the end of March," Kumar was quoted as saying by Mint.