“With the onboarding of the Ministry of Railways getting completed by March 2021, GeM is headed towards an order value of Rs 1 lakh crore next fiscal,” Kumar told reporters here.
He said as per estimates centre and states together buy goods and services worth Rs 5-7 lakh crore every year.
Kumar also said that the GeM is steadily moving towards the vision of a Unified Procurement System with an aim to consolidate all government procurement into a single, cohesive platform that can lead to economies of scale, more efficient price discovery, and sharing of best practices.
Further, he said high-end technologies like AI (artificial intelligence) and blockchain will be used to make the portal more dynamic.
Blockchain would be used for two applications – procurement of medicines in bulk and products with GI (geographical indicator) tag.
As per Budget 2020-21, the government is looking to increase the turnover of the public procurement portal to Rs 3 lakh crore, according to a commerce ministry’s document on GeM.