<h1>Government procurement transparency: GeM reports record GMV and significant procurement cost savings through competition and price discovery mechanisms.</h1> Government e-Marketplace (GeM) reports record Gross Merchandise Value for FY 2022-23 and cumulative GMV through July 2023, and estimates substantial procurement savings since inception. The platform's savings are attributed to higher seller participation, real-time price comparison, bulk discounts, and price-discovery mechanisms such as competitive bidding, reverse auction and demand aggregation. GeM is presented as promoting transparency, efficiency, and fairness in government procurement by enabling broader and equitable participation and competitive outcomes.