Business News | SAIL First CPSE to Cross Rs 10,000-cr Procurement Value on GeM
Get latest articles and stories on Business at LatestLY. SAIL said it had 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.
New Delhi [India] October 27 (ANI): Steel Authority of India (SAIL) on Thursday said it has become the first central public sector enterprise (CPSE) to achieve the major milestone of procurement value of Rs 10,000 crore through the government's e-marketplace (GeM) since inception.
SAIL said it had 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.
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From a small beginning of Rs 2.7 crore in the financial year 2018-19 (FY18-19), SAIL said it had already crossed the total value of Rs 10,000 crore in this year.
SAIL said it was the largest CPSE procurer on GeM in the previous financial year with a value of Rs 4,614 crore. In the current fiscal, SAIL has already surpassed the achievement of the previous year with procurement of over Rs 5,250 crore till date and is committed to substantially increasing the volumes on GeM. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)