Rapid Fire
MoD Achieves Rs 1 Lakh Crore Milestone on GeM Portal
- 17 Feb 2024
- 1 min read
The Ministry of Defence (MoD) has achieved a remarkable feat by surpassing the Rs 1 Lakh Crore mark in total order value transacted through the Government e-Marketplace (GeM) portal, signalling a significant milestone in government procurement practices.
- The GeM is a national public procurement portal for Indian government. The portal was launched in 2016 by the Ministry of Commerce and Industry to create an open and transparent platform for government buyers.
- GeM facilitates procurement ranging from general store items to critical defence acquisitions, including missile systems, and more.
- GeM leverages demand aggregation modules to maximise cost-effectiveness and efficiency in government transactions, showcasing commitment to transformative change.
- MoD becomes the first central government entity to achieve this milestone, showcasing its commitment to optimising public spending.
- 50.7% of total orders awarded to Micro and Small Enterprises (MSEs), aligning with GeM's core value of social inclusion.
- Defence PSUs actively engage on the GeM platform, facilitating both procurement and sales, marking a paradigm shift in the procurement landscape.
Read more: Government e-Marketplace
