New Delhi, Feb 14 : The orders placed by the Ministry of Defence (MoD) through the Government e-Marketplace (GeM) portal has surpassed a whopping Rs 1 lakh crore reflecting the increasing transparency and efficiency in executing defence deals, the Commerce Ministry said on Wednesday.

Of this total amount, transactions worth around Rs 45,800 crore have been awarded in the current financial year. From procurement of general store items like eggs to missile systems and critical defence acquisitions, GeM has helped MoD execute more than 5.47 lakh orders.

'The Defence Ministry is the first central government entity to cross this staggering figure, exemplifying its resolute commitment towards optimising public spending in the Defence sector. This milestone underscores the effort and commitment of the Ministry of Defence to embrace the change and set out as a key propeller of Prime Minister Narendra Modi's vision of a self-reliant India,' said GeM CEO P.K. Singh.

In line with GeM's core value of maximising social inclusion, 50.7 per cent of the total orders, amounting to Rs 60,593 crore, have been awarded to Micro and Small Enterprises (MSEs) by MoD buyers, driving India's economy closer to self-reliance.

Since its inception, MoD has been an early adopter of GeM. The immense trust placed in the portal by nearly 19,800 MoD buyers across the country, including remote far flung areas like northeastern states, Leh-Ladakh, and various island territories.

The engagement of Defence PSUs on the GeM platform has not only facilitated procurement but has also facilitated sales, marking a paradigm shift in the procurement landscape, according to the Commerce Ministry statement.

Through initiatives like demand aggregation modules, GeM continues to deliver cost-effectiveness and efficiency in government transactions. By pooling requirements for similar products across different organisations, GeM is maximising the benefits of large-volume procurement for buyers like the Ministry of Defence, demonstrating its commitment to driving transformative change in government procurement practices, the statement added.

/IANS