Forward Auction
Search documents
GeM Raises ₹2,200 Crore via Govt Asset Auctions
ETRetail.com· 2025-12-22 04:04
Group 1 - The Government e-Marketplace (GeM) has become a significant platform for small businesses in India, with over 1.125 million micro and small enterprises securing government orders worth ₹7.44 trillion [1] - Government departments and entities have raised over ₹220 billion through asset disposal on the GeM platform over the last four years, including scrap, e-waste, old vehicles, and machinery [2][7] - The Forward Auction module of GeM has facilitated more than ₹220 billion in auctions, conducted over 13,000 auctions, onboarded over 23,000 registered bidders, and enabled participation from more than 17,000 auctioneers between December 2021 and November 2025 [2][3][7] Group 2 - The forward auction process has evolved into a nationwide digital mechanism for government asset disposal, moving beyond the pilot stage [3] - The auction process allows government departments to list items, where registered bidders place competing bids, and the highest offer is declared successful [4] - Examples of successful auctions include the State Bank of India auctioning 100 EWS flats in Lucknow for ₹345.3 million and the sale of unusable articles by the National Zoological Park and screened gypsum worth ₹33.5 million by FCI Aravali Gypsum and Minerals India [5][7]