The Ministry of Agriculture of India developed an agricultural equipment rental app for Indian farmers with a rental tractor, rotavator. The app will be similar to Uber and this related mobile app is expected to be launched by the end of August.
According to the survey, around 38K custom hiring centers across India have the capacity to rent 2.5 lakh farm equipment annually. Mahindra Group’s introduction of Tringo service outside Karnataka where it will help farmers book tractors by the hour.
Trringo is a growing composite tractor sector in India that stands to gain a major victory in farming equipment by Mahindra groups launched in 2019. Mahindra groups won a tender from the state government and have 101 Tringo in Karnataka hub. Each hub will have five tractors and will charge 10 percent commission from its franchise partners. The Karnataka government set aside Rs 175 crore to bear 75 percent of the capital cost in each taluka.
The Ministry of Agriculture has already conducted successful trials in Chhattisgarh, Madhya Pradesh, Rajasthan, and Punjab. The Gold Farm has funded $ 2 million in seeds from Mahindra & Mahindra and Infuse Ventures at the end of 2017.