Government e-Marketplace targets Rs 40,000cr GMV in FY19

Government e-Marketplace(GeM) aims to clock Rs 40,000 crore gross merchandise value by the end of this financial year, despite levying a transaction fee of 0.5 percent from sellers to recover costs, a top official said in the statement.

Considering the last two years of operations of the GeM portal, the total cumulative procurement stands at Rs. 11,000 cr.

GMV is the sale price charged to the customer multiplied by the number of items sold.

Started in August 2016, GeM was launched to facilitate online procurement of common-use goods and services required by both central and state governments, organisations and public sector units.