One of India’s largest tractor maker, Mahindra and Mahindra Ltd has launched its very own tractor rental startup called, Trringo, which will operate on a franchisee-based model where it will provide new tractors and equipment rented out by its partners.
The company estimates tractor and equipment rental market valued at about Rs 15,000 crores annually and has set up 101 custom hiring centres for tractors in Karnataka after it won a tender from the govt. The state govt is also reportedly bearing 75% of the capital cost to set up centres in every taluk.
The company plans to setup 165 such centres across India in the coming months.
