Ministry of Commerce and Industry has said that  Government e-Marketplace (GeM) has reached a significant milestone by surpassing two lakh crore in Gross Merchandise Value (GMV) in  less than eight months of the current fiscal year.  GeM also witnessed a significant growth in average GMV per day reaching more than 850 crore rupees per day in current Financial Year.   The Ministry  in  a statement said that GeM's expansion into the services sector has played a pivotal role in driving its accelerated adoption. Services sector has exhibited a staggering increase in the overall contribution to the total order value transacted through the platform, having jumped from 23 in Fiscal year  2021-22 to nearly 46 per cent current financial year.
 
The Ministry added that  the hallmark of GeM's success lies in its dedication to cost savings, having enabled the government to save over 45 thousand  crore rupees  since 2016. According to the Economic Survey 2021-22, GeM's prices were 9.5 per cent  lower than other online platforms for 10 out of 22 commodities. GeM's transformative journey is a testament to transparency, efficiency, and inclusivity driven by cutting-edge technology and innovation.
 
The portal displays a diverse catalogue of nearly 312 service categories and more than 11,800 product categories. Cumulatively, GeM has surpassed the 5.93 lakh crore rupees GMV since inception, with the overwhelming support of its stakeholders. The total number of transactions on GeM has also crossed 1.8 crore.