SAIL crosses ₹10,000 cr procurement mark on GeM portal

“Steel Authority of India Limited (SAIL), becomes the first Central Public Sector Enterprise (CPSE) to achieve the major milestone of procurement value of ₹10,000 (Ten Thousand) Crore through the Government-e-Marketplace (GeM) since inception,” the Ministry of Steel said in a statement.

One of India’s largest steel producers, 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 FY18-19, SAIL has already crossed the total value of Rs. 10,000 crore in this year, the ministry said.

SAIL 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 previous year with procurement of over Rs. 5,250 Crore till date and is committed to substantially increase the volumes on GeM.

SAIL produces iron and steel at five integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials.

The steelmaker manufactures and sells a broad range of steel products. SAIL, under the Ministry of Steel, is the country’s largest steel-making company with an annual capacity of over 20 million tonne (MT).

The company had earlier crossed the landmark of ₹1 lakh crore in annual turnover during the financial year 2022.

The turnover of ₹1.03 lakh crore during the last financial year was a growth of over 50 percent from the financial year 2021.