: Defence purchases from MSMEs on GeM portal cross Rs 15000 cr in FY22 #FinanceIndia #StockMarketNEWS Defence purchases from MSMEs on GeM portal cross Rs 15000 cr in FY22 New Delhi, May 2 (KNN) Defence

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Defence purchases from MSMEs on GeM portal cross Rs 15000 cr in FY22 #FinanceIndia #StockMarketNEWS
Defence purchases from MSMEs on GeM portal cross Rs 15000 cr in FY22 New Delhi, May 2 (KNN) Defence purchase of goods and services from micro, small and medium enterprises (MSMEs) through the government’s business-to-government (B2G) portal Government eMarketplace (GEM) has been recorded at Rs 15,047.98 crore in FY22.

The procurement orders saw a jump of over over 250 per cent in the financial year 2021-22 from the previous year.

Starting in August 2016, the GeM revamped the old tender process and brought greater probity and transparency in government procurement through digitisation.

By December 2021, the total count had jumped to 12,000. As a result, the procurement value by Defence Public Sector Units (DPSUs) from MSMEs had increased from Rs 4842.92 crore in FY19 to Rs 5463.82 crore in FY21.

GeM has overall 42.35 lakh sellers out of which 7.70 lakh were MSMEs with 56 per cent share in the order value on GeM. (KNN Bureau)

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