New Delhi, May 7 -- India's Central Public Sector Enterprises (CPSEs) have emerged as significant drivers of economic activities, with their procurement from Micro, Small, and Medium Enterprises (MSMEs) reaching 36.34 per cent in the Financial Year 2024, surpassing the mandated target of 25 per cent.
According to official reports, the combined procurement through the Government e-Marketplace (GeM) by 54 CPSEs and five departmental arms of the government, including the Railways Board and the National Highways Authority of India, stood at a substantial Rs 2.62 lakh crore as of March 31, 2024, reported ET.
This figure represents a remarkable increase from the Rs 1.06 lakh crore recorded in the same period last year, enabling the CPSEs to a...