New Delhi: State-run Maharatna Power PSU, Power Grid Corporation of India (PGCIL) has been awarded for its massive growth in procurement through GeM (Government e-Marketplace). The award was given to Power Grid at the 'Global Procurement Summit 2023' conducted by AIMA.
The certificate has been received by Power Grid's Director (Personnel) Dr VK Singh and Executive Director (CS) B Anantha Sarma.
GeM is an online platform for public procurement in India and was launched by the Ministry of Commerce and Industry on August 9, 2016. The main objective of GeM is to create an open and transparent procurement platform for government buyers.
Power Grid began its procurement through GeM in 2018 and procured goods worth Rs 6.62 core through GeM in FY 2018-19. In subsequent years, upon expansion of GeM portfolio, GeM procurement in Power Grid witnessed a massive growth, reaching beyond Rs 1,050 crore upto third (Q3) of the current financial year (FY 2022-23). Power Grid has carried out 98.88 percent of its total goods & service procurement through GeM during this period.
Power Grid is a Maharatna PSU under the Ministry of Power. It was ranked 1st in the Services Sector across categories Gross Block, Value Addition, Net Profit, Net Worth, Dividend Declaration and Contribution to Central Exchequer in the recently published Public Enterprises Survey 2021-22 by the Department of Public Enterprises (DPE), Ministry of Finance, Government of India. It has also been ranked 3rd amongst Top 10 Profit Making CPSEs.