Government E-Marketplace GeM Completes Two Years With $1.4 Bn In GMV

Government e-Marketplace (GeM), a national public procurement platform, will turn two years old tomorrow, claiming over $1.45 Bn (INR 10,000 Cr) in Gross Merchandise Value (GMV) through more than $8.96 K (INR 6.16 Lacs) transactions on the platform.
In a media statement, GeM has also iterated that there were over 4.2 lakh products available on its platform through a network of over 1.3 lakh sellers and service providers.
These products and services are being bought by over 25K government organisations (Central, State Governments, and PSUs registered on the platform.

GeM was founded in August 2016 as a Section 8 company to facilitate the online purchase of goods and services for the employees of Central Government ministries and departments.
The aim is “to transform the way in which procurement of goods and services is done by the Government Ministries/Departments, PSUs, autonomous bodies etc.,” according to an official statement released by the government in January 2017.
The portal has been developed by the Directorate General of Supplies and Disposals (DGS&D) with technical support of NeGD (MeitY). Overall, the platform is managed by fintech startup Intellect Design Arena and ecommerce major Infibeam who won the bid for managing government emarketplace (GeM) in July 2017.
Source: INC42