New Delhi: Public procurement portal GeM has enabled government departments and entities to raise Rs 2,200 crore over the last about four years through the disposal of assets such as scrap, e-waste, old vehicles, machinery, and leasehold properties, an official statement said on Sunday. The government e-marketplace (GeM) operates as a digital platform through which ministries, departments, and public sector entities procure goods and services.
In addition to this function, GeM facilitates disposal of government assets through its "Forward Auction" module, introducing online competitive bidding and improving transparency, efficiency, and value discovery in a process that was traditionally fragmented and paperwork-intensive.
"Between December 2021 and November 2025, GeM's Forward Auction module facilitated auctions worth more than Rs 2,200 crore, conducted over 13,000 auctions, onboarded more than 23,000 registered bidders and enabled participation from over 17,000 auctioneers," the commerce ministry said. These figures underscore that forward auctions are no longer a pilot initiative but have evolved into a nationwide digital mechanism for government asset disposal, it said.
A forward auction is a digital bidding process through which government departments sell assets such as scrap, e-waste, old vehicles, machinery and leasehold properties, including buildings and land, to the highest bidder. In this process, the government lists an item on the platform, registered bidders place competing bids and the highest offer is declared successful. Through GeM's secure digital interface, departments are able to set reserve prices, define participation conditions and monitor bidding in real time, ensuring efficiency and transparency throughout the auction lifecycle.
Citing an example, it said the State Bank of India auctioned 100 EWS (Economic Weaker Sections) flats in Lucknow and realised Rs 34.53 crore through the GeM platform. The other auctions through this module include the sale of unusable and obsolete articles by National Zoological Park here, and screened gypsum worth Rs 3.35 crore by FCI Aravali Gypsum and Minerals India.
Disclaimer: This story is from the syndicated feed. Nothing has changed except the headline.
