Steel Authority of India Ltd (SAIL) becomes the first Central Public Sector Enterprise (CPSE) to achieve the major milestone of procurement value of Rs 10,000 crore through the Government-e-Marketplace (GeM) since inception.
According to the Union Steel Ministry on Thursday, SAIL has been at the forefront in partnering with GeM and has played an active role to create different functionalities to enhance the reach of the GeM portal.
From a small beginning of Rs 2.7 crore in FY 2018-19, SAIL has crossed the total value of Rs 10,000 crore in this year, the ministry said in a statement.
Incidentally, SAIL was the largest CPSE procurer on GeM in the previous Financial Year with a value of Rs. 4,614 crore, the ministry stated.
It said that in the current fiscal, SAIL has surpassed the achievement of previous year with procurement of over Rs 5,250 crore till date and is committed to substantially increase the volumes on GeM.