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Defence Procurement Crosses Rs 1 Lakh Crore Mark At GeM Portal admin March 11, 2024

Defence Procurement Crosses Rs 1 Lakh Crore Mark At GeM Portal

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IamSMEofIndia Business Update

Defence Procurement Crosses
Rs 1 Lakh Crore Mark At GeM Portal 


The Ministry of Defence (MoD) has achieved a remarkable feat by exceeding the Rs 1 Lakh Crore milestone in total order value conducted through the Government e-Marketplace (GeM) portal, also known as Gross Merchandise Value (GMV).

Aligned with GeM’s core value of maximising social inclusion, MoD buyers have awarded 50.7% of total orders, amounting to Rs 60,593 Crore, to Micro and Small Enterprises (MSEs), furthering India’s journey towards self-reliance.

Transactions worth approximately Rs 45,800 Crore have been awarded in the current financial year. GeM has facilitated MoD in executing over 5.47 lakh orders, ranging from procurement of everyday items like eggs to critical defence acquisitions, including missile systems.

Furthermore, the engagement of Defence PSUs on the GeM platform has not only streamlined procurement but has also facilitated sales, marking a paradigm shift in the procurement landscape.

Through initiatives like demand aggregation modules, GeM continues to deliver cost-effectiveness and efficiency in government transactions.

By consolidating requirements for similar products across different organisations, GeM maximises the benefits of large-volume procurement for buyers like the Ministry of Defence, demonstrating its commitment to driving transformative change in government procurement practices.

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