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Kolkata-based Srei on Thursday launched “iQuippo”, a digital marketplace for construction equipment machinery and services.
This means that iQuippo will act like an Amazon or Flipkart; but in the construction equipment space.
It will allow, buying, sell and rent of new and used construction equipment. It will also have assisted services. Owners will have to list their assets and services, can negotiate with buyers, generate invoices and make payments.
According to Sunil Kanoria, Vice-Chariman, Srei Infra, the marketplace will earn fee-based income.
The construction equipment market is envisaged to grow to Rs 50,000 crore by 2020. Currently, it is pegged at Rs 21,000 crore with penetration of used equipment sales being in the range of 8-15 per cent.
“During the last five years, construction equipment industry has not grown. We are witnessing growth from this April onwards. This means there is excess assets which have not been put to use. Now with the infra sector picking up, we expect a rise in used construction equipment sale and rentals too,” he said.
Growth in the construction equipment sector was being driven primarily by the roads, mining and the Railways.
iQuippo, Kanoria said, will not just further B2B (business-to-business) linkages; but also B2C (business-to-consumer) ones. It will look to aggressively tie-up with partners of the eco-system like manufacturers, brokers, other equipment financiers, insurers among others.
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