Revolutionizing Government Asset Disposal: GeM’s Digital Approach

The Government e-Marketplace (GeM) has raised Rs 2,200 crore through digital forward auctions for government asset disposal. By facilitating over 13,000 auctions with 23,000 bidders, GeM has introduced transparency and efficiency in selling assets like scrap and e-waste, shifting away from traditional, paperwork-heavy methods.

The Government e-Marketplace (GeM) has dramatically transformed the landscape of government asset disposal, having raised Rs 2,200 crore over the past four years, as per an official statement.

GeM, a digital platform for procuring goods and services, now features a 'Forward Auction' module that facilitates the online disposal of government assets such as scrap and e-waste, replacing traditional, inefficient methods with a transparent, competitive bidding process.

Through 13,000 auctions and partnerships with over 23,000 registered bidders, GeM has proven its effectiveness in real-time asset distribution, reachable nationwide. Record-breaking sales, like the Rs 34.53 crore auction of Economic Weaker Sections flats by State Bank of India, demonstrate the system's success.

(With inputs from agencies.)