New Delhi [India], May 19 (ANI): Union Minister of Commerce and Industry Piyush Goyal stated that the GeM portal of the government has eliminated the entry barriers, weeded out corruption, empowered and uplifted marginalised sections, especially in small towns, and enabled massive savings of taxpayers' money.

In a social media post on X, the minister said, 'India has become a key engine of PM @NarendraModiji's vision of Viksit Bharat 2047... the GeM portal has eliminated entry barriers, weeded out corruption, empowered and uplifted marginalised sections, especially in small towns, and enabled massive savings of taxpayers' money.'

The minister said the Government e-Marketplace (GeM) has rapidly emerged as a world leader in providing a transparent, inclusive and efficient platform for public procurement.

Since its inception in 2016, orders worth more than Rs 13.4 lakh crore have been transacted on the GeM portal. Public procurement via the platform rose to a record Rs 5.43 lakh crore in 2024-25. GeM aims to raise its annual business to Rs 7 lakh crore in the current fiscal.

He said GeM has given greater opportunities to honest businesses, created jobs, and supported India's economic growth. In this context, GeM's significance goes far beyond its phenomenal growth in financial terms. It also serves as a critical engine of equitable growth in line with Prime Minister Modi's mission of Sabka Saath, Sabka Vikas.

GeM provides startups, small businesses and women-led enterprises an easy path to showcase their products and services to government buyers without any intermediaries.

By eliminating barriers to entry, the platform empowers small, home-grown businesses to participate in e-tenders and expand their businesses.

The minister also shared that the Government e-Marketplace (GeM) has rapidly emerged as a world leader in providing a transparent, inclusive and efficient platform for public procurement.

It connects more than 1.6 lakh government buyers with 23 lakh sellers and service providers, becoming a key engine of Prime Minister Narendra Modi's vision of Viksit Bharat 2047.

In nine years since PM Modi launched the transformative digital initiative, GeM has revolutionised the way government buys goods and services by weeding out corruption and giving business opportunities to startups, MSMEs, women and businesses in small towns.

The user-friendly platform is a true gem that has replaced the notorious Directorate General of Supplies and Disposals, which had opaque and uncompetitive systems that gave an unfair advantage to a privileged few.

Befittingly, the commerce and industry ministry's new office, Vanijya Bhawan, has been built on land once occupied by this obsolete body.

The minister added that the GeM has undoubtedly emerged as a technological behemoth in the public procurement landscape. The magnitude of business transacted is likely to make it the world's largest public procurement portal, surpassing well-established institutions like South Korea's KONEPS, in the near future. (ANI)