, 08 April 2016 : India’s largest tractor manufacturer Mahindra’s Farm Equipment Sector (FES) has announced that it has entered into agricultural equipment rental services with the launch of TRRINGO.
TRRINGO will operate as a franchisee based model and will effectively bring in new age digital technology to the tractor rental business.
Dr. Pawan Goenka, Executive Director, Mahindra & Mahindra Ltd, said, “In our country where farm mechanization penetration is low, TRRINGO farm equipment rental business model will enable farmers to deploy mechanization technology on a pay per use basis without investing in the asset. This will increase their output and prosperity and lead to the inclusive growth of the nation.
Rajesh Jejurikar, President & Chief Executive Farm Equipment & Two Wheelers, Mahindra & Mahindra Ltd said, “TRRINGO will be an e-commerce startup which will provide the brand promise of equipment availability, commitment and performance, to transform lives of farmers.
TRRINGO is a first of its kind technology driven model in the tractor rental business for those farmers who may not be able to afford their own tractor and farm equipment. The rental service will operate on a dual business model.
The first model is one where the franchisee will invest in tractors and equipment to rent them out and set up a hub for operations. Franchisee could also tie-up with tractor owners in the vicinity enabling them to rent out equipment to farmers on a commission basis.
In the second C2C business model, large farmers who own expensive, high-end equipment can rent out their assets thereby optimizing utilization based on seasonality, cutting across geographies. TRRINGO would connect the asset owner to the user through the App. The initiative will drive the mechanization of the Indian agricultural sector, enabling smaller farmers to access technology that can boost their yields and thereby overall farm prosperity.
