<h1>Government e-Marketplace Hits Record Rs. 2,01,113 Crore GMV in 2022-23, Saving Over Rs. 40,000 Crore.</h1> The Government e-Marketplace (GeM) achieved its highest Gross Merchandise Value (GMV) of Rs. 2,01,113 crore in the financial year 2022-23, marking significant growth since its inception. GeM has facilitated savings of over Rs. 40,000 crore, with studies noting an average cost saving of 9.75% for government buyers. The platform's features, such as competitive bidding and real-time price comparison, have increased seller participation and transparency. GeM's GMV has consistently grown over the past three years, reaching a cumulative total of over Rs. 4.5 lakh crore by July 2023, enhancing the efficiency of government procurement processes.