AHMEDABAD: The Government e-marketplace (GeM), PM Modi’s brainchild, which is directly monitored by the PMO office, is expected to touch Rs 50,000 crore transactions in a year and aims to reach Rs2 lakh crore in transactions in the next four to five years, says a top GeM official.Last week, in the union budget 2018 speech, Finance Minister Arun Jaitley said that the Central Public Procurement Portal will provide a single point access for all information on procurement.HR Sharma, additional CEO, GeM, told ET “As per an (internal) estimate, we may touch Rs 50,000 crore in transactions in a year and in next four to five years we expect to clock Rs 2 lakh crore plus.” He was on a visit to Ahmedabad for a vendors meet. There are more than 300 vendors from Gujarat till date. He also said that from August 2016 to March 2017, GeM has clocked transaction between Rs 600-700 crore.Since April 2017 till date, it has already touched Rs 4,080 crore on GeM platform, out of which in the month of January alone the transactions crossed Rs 1,000 crore. “Nowadays, the number of transactions are gradually on rise” said Sharma.GeM was launched in August 2016 for online purchases of goods and services by all central government ministries and departments. Till date, 17 states have signed an MoU to be part of the GeM.Last year, Intellect Design Arena and its consortium that includes Infibeam Corporation were awarded five years contract to manage, upgrade and maintain the GeM portal.The third version (new version) of the GeM platform (GeM 3.0) was launched on January 26, 2018, which will help GeM redefine purchases/procurement and enhance the platform capability as it has undergone a major digital transformation and overhaul with superior technology and ability to scale from the previous versio