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FY24 services procurement from GeM seen Rs 1.5 lakh crore, Retail News, ET Retail

Procurement of services from the Government e-Market (GeM) is expected to touch Rs 1.5 lakh crore this fiscal from Rs 65,957 crore in 2022-23, GeM CEO P K Singh said on Wednesday. He also said that Coal India, NTPC Ltd and ONGC, states like Gujarat, Uttar Pradesh, Delhi, Uttarakhand, Punjab and Nagaland, and ministries such as coal, power, defence and finance, are the top buyers of services from the national procurement portal.

The Government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all the central government ministries and departments.

Singh said that services procurement was just Rs 3,069 crore in 2019-20 but reached Rs 65,957 crore in FY23.

“This fiscal, it is expected to reach Rs 1.5 lakh crore,” he said.

The main service categories which are in demand include manpower outsourcing, vehicle hiring, mine development and operations, handling, transport and other mining services, insurance, IT and medical.

About 10 types of insurance services are available on the platform such as group mediclaim, assets, liability, motor, livestock, crop and medical. Singh said that insurance companies have registered on the portal, and it has removed the role of agents.

As per GeM, 175 orders are placed by subsidiaries of Coal India, having order value Rs 24,558 crore for handling, transport and other mining activities.

Singh also said that some unique services too are in demand such as leasing of high value medical equipment, market research/survey, hiring of chartered aircrafts, examination service and air international logistics service.

The procurement of goods has reached Rs 1.10 lakh crore and of services Rs 90,000 crore, till date. GeM has over 63,000 government buyer organisations and over 62 lakh sellers and service providers offering a wide range of products and services.

  • Published On Nov 2, 2023 at 08:44 AM IST

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