Overview
- GeM is set to introduce global tendering features this year, enabling foreign suppliers to bid for government contracts over ₹200 crore as part of trade agreements with the UK and UAE.
- The platform aims to facilitate ₹7 lakh crore in transactions for FY 2025-26, building on its record ₹5.43 lakh crore procurement in FY 2024-25.
- GeM currently connects over 1.6 lakh government buyers with 23 lakh sellers, including startups, MSMEs, and women-led enterprises, driving inclusive economic growth.
- Independent assessments, including by the World Bank, highlight nearly 10% cost savings in government procurement through GeM's transparent and efficient processes.
- Plans are underway to deepen adoption at the state and local levels, while adding rate contracts and work contracts to expand procurement capabilities.