By providing a unified platform for government entities to procure goods and services directly from suppliers, GeM has minimized intermediaries, fostering competition and leading to significant price reductions. The platform’s inherent transparency, through features like reverse auctions and online bidding, ensures fair and unbiased procurement practices. This increased transparency, coupled with streamlined procedures, has instilled greater confidence among both buyers and sellers.
The ₹5 Lakh Crore GMV milestone is not merely a numerical achievement; it represents a tangible impact on the Indian economy. It signifies increased opportunities for Micro, Small, and Medium Enterprises (MSMEs), promoting indigenous manufacturing and contributing to the ‘Make in India’ initiative. Furthermore, it demonstrates the government’s commitment to leveraging technology for improved governance and economic growth. As GeM continues to evolve and incorporate advanced features, its role in shaping a more efficient and transparent public procurement landscape will only continue to expand.
