Question
Which financial metric did the Government e-Marketplace
(GeM) exceed Rs 5 lakh crore in for the financial year 2024-25?Solution
The Government e-Marketplace (GeM) surpassed Rs 5 lakh crore in Gross Merchandise Value (GMV) on its portal for the financial year 2024-25. This milestone was achieved in less than 50 days after crossing the Rs 4 lakh crore mark on January 23, 2025, demonstrating the platform's rapid expansion as a primary tool for public procurement. GeM serves over 1.6 lakh government entities and has implemented significant policy reforms to enhance market accessibility, particularly benefiting Micro and Small Enterprises (MSEs), startups, and women-led businesses. As of February 13, 2025, more than 22 lakh sellers and service providers were registered on GeM, which was launched in August 2016 by the Ministry of Commerce and Industry.
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