The Government e-Marketplace (GeM) has achieved a significant milestone by surpassing Rs 5 lakh crore in Gross Merchandise Value (GMV) on its portal before the close of the financial year 2024-25. This achievement highlights GeM’s rapid expansion as a primary tool for public procurement, serving a buyer base of over 1.6 lakh government entities. The Ministry of Commerce and Industry, in a statement, said that the leap from four lakh crore rupees to five lakh crore rupees was accomplished in less than 50 days since crossing the previous benchmark on the 23rd of January this year. The Ministry added that GeM has undertaken major policy reforms in recent months to enhance market accessibility and streamline participation for sellers. Key initiatives, such as the reduction in transaction charges, vendor assessment fees, and caution money requirements, have made the platform more accessible, particularly benefiting micro and small enterprises, startups, and women-led enterprises. Over 22 lakh sellers and service providers are registered on GeM, contributing to a diverse and competitive procurement ecosystem.