The gross merchandise value (GMV) of the Government e-Marketplace (GeM) at the end of the first quarter of the current fiscal year was recorded at 1,24,761 lakh crore rupees. According to the Commerce and Industry Ministry, this is a 136% quarter-over-quarter increase over the GMV of 52,670 crore rupees from the previous year. According to the statement, GeM has redesigned a previously disjointed system into an all-inclusive one-stop shop that is extensively utilized by government purchasers and supported by a nationwide network of vendors and service providers in India.
Services worth 80 thousand 500 crore rupees have been purchased in this first quarter. The amount of money procured by Central Government agencies has crossed the one lakh crore rupee threshold. This quarter, the top procurers were the Ministries of Coal, Defence, and Petroleum and Natural Gas.