The Government e-Market (GeM) entryway was dispatched in August 2016 for the online acquisition of products and enterprises by all the central government services and divisions. Goods and Services worth Rs 1 lakh crore are required to be obtained from the public acquirement entry GeM in 2021-22, a senior authority said on Wednesday. GeM Chief Executive Officer Talleen Kumar said the order value in 2020-21 is projected at Rs 37,000 crore, up from Rs 22,896 crore in the previous year.
“With the onboarding of the Ministry of Railways getting completed by March 2021, GeM is headed towards an order value of Rs 1 lakh crore next fiscal,” Kumar told reporters here. He said as per estimates center and states together buy goods and services worth Rs 5-7 lakh crore every year.
Kumar also said that the GeM is steadily moving towards the vision of a Unified Procurement System with an aim to connect all government procurement into a single, cohesive platform that can lead to economies of scale, more efficient price discovery, and sharing of best practices.
Moreover, he said high-end technologies like AI (artificial intelligence) and blockchain will be used to make the portal more dynamic. Blockchain would be used for two applications procurement of medicines in bulk and products with GI (geographical indicator) tag.
As per Budget 2020-21, the government is looking to increase the turnover of the public procurement portal to Rs 3 lakh crore, according to a commerce ministry’s document on GeM.