GeM, led by CEO Prashant Kumar Singh, aims to surpass South Korea’s KONEPS by integrating construction contracts. FY24 procurement hit Rs 4 lakh crore, and FY25 Q1 reached Rs 1.24 lakh crore, with ministries and CPSEs, contributing Rs 91,000 crore. Nearly completed stakeholder consultations focus on a Unified Procurement System. MSME transaction charges were lowered to 0.3% with a Rs 3 lakh cap.
