India, Dec. 21 -- The Government of India has issued a release:
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.
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 g...