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MoD Achieves Rs 1 Lakh Crore Milestone on GeM Portal

  • 17 Feb 2024
  • 1 min read

Source: PIB

The Ministry of Defence (MoD) has achieved a remarkable feat by surpassing the Rs 1 Lakh Crore mark in total order value transacted through the Government e-Marketplace (GeM) portal, signalling a significant milestone in government procurement practices.

  • The GeM is a national public procurement portal for Indian government. The portal was launched in 2016 by the Ministry of Commerce and Industry to create an open and transparent platform for government buyers.
  • GeM facilitates procurement ranging from general store items to critical defence acquisitions, including missile systems, and more.
  • GeM leverages demand aggregation modules to maximise cost-effectiveness and efficiency in government transactions, showcasing commitment to transformative change.
  • MoD becomes the first central government entity to achieve this milestone, showcasing its commitment to optimising public spending.
  • Defence PSUs actively engage on the GeM platform, facilitating both procurement and sales, marking a paradigm shift in the procurement landscape.

Read more: Government e-Marketplace

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