GeM aims for Rs7 lakh crore procurement, integrates AI in 10 languages
New India [India], 19 May (ANI): The Government e-Marketplace (GeM) on Monday announced plans for an ambitious procurement target of approximately Rs7 lakh crore for the current fiscal year. GeM also introduces artificial intelligence capabilities in 10 Indian languages to enhance user experience.CEO Mihir Kumar while speaking at GeM's 8th Incorporation Day press conference, emphasised the platform's significant impact on public procurement. He said, 'At GeM, we are innovating to simplify and empowering to transform--because when innovation meets inclusion, it unlocks opportunities for every Indian entrepreneur.'The platform has intensified its focus on transparency, detecting 8 lakh erroneous product catalogs and suspending 5,200 sellers for listing violations in FY 2025. Additionally, 8,800 cases of buyer-seller collusion were reported between 2023 and 2025, leading to the cancellation of 500 suspicious bids.GeM has played a crucial role in inclusive growth by onboarding over 10 lakh Micro and Small Enterprises (MSMEs), 1.3 lakh artisans and weavers, 1.84 lakh women entrepreneurs, and 31,000 startups.Over the past eight years, GeM has witnessed substantial expansion, including a 14-fold growth in Gross Merchandise Value in the last four years and a threefold increase in its user base. It now serves 1.64 lakh primary buyers and 4.2 lakh active sellers, offering over 10,000 product categories and more than 330 services.GeM has facilitated high-value transactions, including Rs5,000 crore worth of equipment for the Akash Missile System and Rs5,085 crore in vaccine procurement. It also offers specialised services such as drone solutions for AIIMS and insurance coverage for over 1.3 crore lives.All 36 states and Union Territories have adopted GeM, with eight states (Uttar Pradesh, Maharashtra, Manipur, Gujarat, Himachal Pradesh, Assam, Uttarakhand, and Chhattisgarh) mandating its use.GeM remains committed to its digital transformation, aiming to create a more transparent, efficient, and inclusive marketplace for all stakeholders in India's procurement ecosystem. (ANI)
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