Coal Ministry & Coal India Ltd leading in e-Procurement
Procurement through GeM has consistently risen from the fiscal year 2020-21 to 2023-24, underscoring the significant transformation GeM has brought in the public procurement ecosystem.
New Delhi: An in-depth analysis of e-Procurement performance of the Ministry of Coal and Coal India Limited (CIL) over the past three financial years indicates a healthy upward trend on the Government e-Marketplace (GeM).
Procurement through GeM has consistently risen from the fiscal year 2020-21 to 2023-24, underscoring the significant transformation GeM has brought in the public procurement ecosystem.Read Also : GRSE Hosts First-Ever National-Level QCC Competition for Defence PSUs
From FY 2020-21 to FY 2022-23, e-procurement through GeM has shown continuous growth. In FY 2020-21, it facilitated a total e-procurement of 477 crore rupees, which has risen significantly to 28,665 Crore rupees during current FY.
The percentage of procurement through GeM out of total procurement has significantly increased, from 0.49% in FY 2020-21 to 72% in FY 2023-24(till 15th of October 2023).Read Also : IOCL ranks top Indian Corporate in Bloomberg NEF Global Rankings 2023
As on October 15, 2023, the Ministry of Coal has surpassed its GeM procurement target for the current year, reaching Rs. 28,665 crore, out of the total procurement of Rs. 39,607 crore.
The Ministry of Coal and CIL are leading in e-procurement through GeM among all ministries and Public Sector Undertakings respectively, setting an exemplary benchmark in the public procurement ecosystem.Read Also : THDC lowers Main Inlet Valve of Second Unit in1000 MW Tehri Pumped Storage Project
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