Cat launches financial arm in India; opens up business opportunities for customers

Cat launches financial arm in India

Caterpillar, a global major manufacturer of earthmoving equipment, is committed to offer financial and extended protection services and solutions to its customers. Towards this end, it has launched its financial arm in India – the company’s 41st globally. Caterpillar Financial Services India Pvt. Ltd. effective from July 1, 2019 and headquartered in Bangalore, along with Caterpillar’s two Indian dealers, Gmmco Ltd and Gainwell Commosales Pvt Ltd, will support customers in India by offering a one-stop solution for customized financial services for a range of Cat products.

Shelley Barrett, Vice President, Caterpillar Financial Services Asia Pacific said, “Caterpillar has invested one billion dollars in Capex so far, in India. We have 40 Caterpillar Financial offices worldwide and our Indian operation marks our presence in the 41st location. For over 35 years, we have been helping Caterpillar and our customers succeed by offering financing and leasing services for heavy construction, general construction, forestry mining, waste, industrial, quarry and aggregrates, engines etc.”

Cat Financial India will enable Caterpillar India dealers to provide financial solutions in a responsive and timely manner to meet customers’ needs and support them in expanding their businesses. Added Barrett, “Most customers in the construction industry in India are looking for effective and efficient financing solutions. With the feedback from our dealers and customer partners, and also looking at the huge investment and demand for infrastructure in the country, we are confident that our financial arm in India will help our partners in the country to grab the business opportunities. Our large, mid-size, small, and even the first-time buyers of Caterpillar machines will be benefit from our financing solutions.”

Christopher Lee Farrar, MD, Cat Financial India, commented, “Construction and infrastructure are priority sectors and key drivers for the Indian economy, and the launch of our Cat Financial office further demonstrates and strengthens our commitment to our local customers. We offer an array of financial plans, flexible payment schedules, and competitive rates. We look forward to working with our dealers to ensure that our financial solutions reach our customers with ease and in a prompt time frame. Our new office presence in India will not only help support Caterpillar’s growth in an emerging region, but will also create a competitive edge and an opportunity to provide highly differentiated financial services to customers by leveraging data and technology to make their experience inclusive, seamless and transparent.”

He informed that Caterpillar has been building the world’s infrastructure for over 90 years and in partnership with its independent dealers, is driving positive and sustainable change in every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. The company principally operates through its three primary segments - Construction Industries, Resource Industries and Energy & Transportation - and also provides financing and related services through its Financial Products segment - Cat Financial which offers a wide range of financing and extended protection alternatives for Cat® machinery and engines and Solar® gas turbines, as well as other equipment and marine vessels. It also extends loans to customers and dealers around the world.

Sunil Kumar Chaturvedi, CMD, Gainwell Commosales, said, “It couldn’t have been a better time to start bespoke financing solutions. Our government is putting a lot of emphasis on sustainable infra construction for which we need the right equipment and machines. Financing services to Cat customers will help them grab upcoming opportunities as they will have the capital to buy the necessary equipment to complete their projects on time. This initiative will further strengthen our relationship with our customers.”

“With the financing options and unique services that Cat Financial India offers, our customers will now have access to one-stop financing to easily buy Caterpillar’s productive, reliable and innovative machines in the competitive Indian market,” commented Chandrashekar V, MD & CEO, GMMCO.

Bansidhar Jaganath Phansalkar, Country Manager, Caterpillar India, added, “We are proud to be associated with the development of the country as Caterpillar has been partnering with Indian infrastructure (oil and gas, turbines & turbo machines), transportation (diesel-electric locomotives), power and energy (diesel and natural gas engines), mining and construction sectors (earthmoving and mining equipment). Now with the financing solution, the company is committed to offering financial and extended protection services and solutions to its customers. Ease of doing business with transparency and within the scheduled time frame is very important for Cat.”
Bansi Phansalkar, Director-Global Engineering Caterpillar ITDD, Country Manager,Caterpillar India, Christopher Lee Farrar, Managing Director, Caterpillar Financial Services India Private Limited, Shelley Barrett, Asia Pacific Vice President, Caterpillar Financial Services, Sunil Kumar Chaturvedi, Chairman & Managing Director, Gainwell Commosales Pvt Ltd. and Chandrashekar V, Managing Director & CEO, Gmmco Ltd.
NBM&CW September 2019
IRF Conference Highlights Road Construction Technologies & Solutions

IRF Conference Highlights Road Construction Technologies & Solutions

International Road Federation (IRF) organized a two-day Conference-cum-Exhibition titled ‘Revolutionizing Road Infra with Modern Equipment, Technologies, Sustainable Materials, and Policy Guidelines’.

Read more ...

LogiMAT India 2024 facilitates ₹500 mn Investment Surge

LogiMAT India 2024 facilitates ₹500 mn Investment Surge

The LogiMAT 2024 event facilitated significant investments in India's logistics sector, with transactions worth over ₹500 million taking place, contributing towards infrastructure development, technology adoption, and capacity

Read more ...

Apollo Inffratech Group's Technovation: A festival of future technologies

Apollo Inffratech Group's Technovation: A festival of future technologies

Apollo Inffratech Group celebrated TechNOVATION - a festival of future technologies - on 16th February 2024. It was held at two of its production facilities simultaneously viz. at Apollo Inffratech’s Headquarters and Works at

Read more ...

International Symposium on Innovative World of Concrete (IWC24)

International Symposium on Innovative World of Concrete (IWC24)

The International Symposium on Innovative World of Concrete (IWC24) was held at Raajkutir, Kolkata, India, from 18th to 20th January 2024. The symposium focused on the theme "Concrete Construction: Present and Future." Organized

Read more ...

ICEMA Summit: Making CE Manufacturing Future-Ready

ICEMA Summit: Making CE Manufacturing Future-Ready

The 2nd CE Manufacturing and Supply Chain Summit, organized by the Indian Construction Equipment Manufacturers Association (ICEMA) – an affiliated body of CII, in New Delhi, on 19th February 2024, hosted discussions on critical topics

Read more ...

World Tunnel Congress: Preview of Four Highlights at WTC 2024 Exhibition in China

World Tunnel Congress: Preview of Four Highlights at WTC 2024 Exhibition in China

The World Tunnel Congress 2024 is set to be held with great fanfare during 19-25 April ’24 at Shenzhen, China. To date, the Congress has drawn the world's leading companies in the tunnel industry to participate in the event.

Read more ...

CCMA Successfully Hosts the 4th International Suppliers Conference 2023 on 'Construction Chemicals for the Next Gen'

CCMA Successfully Hosts the 4th International Suppliers Conference 2023 on 'Construction Chemicals for the Next Gen'

The Construction Chemical Manufacturers Association (CCMA) has successfully organized the 4th International Suppliers Conference 2023 on "Construction Chemicals for the Next Gen" on the 4th and 5th of December, 2023, at Taj Vivanta, Navi Mumbai

Read more ...

EXCON Bigger & Better in 2023 - Puts the Spotlight on High-Tech Machines Alternate Fuels Electric Equipment Hydrogen Engines

EXCON Bigger & Better in 2023 - Puts the Spotlight on High-Tech Machines Alternate Fuels Electric Equipment Hydrogen Engines

Spread over 32,00,000 sqft of display area, CII Excon 2023 attracted over 75,000 visitors, 1,021 exhibitors, including more than 100 from overseas (as per preliminary figures; final will be revealed post-UFI audit), and participation

Read more ...

Sustainable Construction takes Center Stage at WOC India 2023

Sustainable Construction takes Center Stage at WOC India 2023

The 9th edition of World of Concrete India was organised by Informa Markets in India, a leading B2B event organizer, at the Bombay Exhibition Centre, Mumbai. The three-day event that concluded on October 20, 2023, was marked by the presence

Read more ...

EXCON 2023: A Window to India's Engineering Prowess & Global Competitiveness

EXCON 2023: A Window to India's Engineering Prowess & Global Competitiveness

There is a great deal of anticipation amongst exhibitors and visitors from across India and abroad for the upcoming Excon’23. The trade event, one of the largest in Asia in the infra construction equipment sector, has grown

Read more ...

Global Maritime India Summit 2023 Modernizing Logistics and Coastal Shipping

Global Maritime India Summit 2023 Modernizing Logistics and Coastal Shipping

Prime Minister Narendra Modi, while inaugurating the third edition of Global Maritime India Summit 2023 held in Mumbai, remarked that India has a vast coastline, a strong riverine eco-system, and a rich cultural

Read more ...

India Warehousing & Logistics Show A key platform for knowledge sharing in Warehousing & Logistics Industry

India Warehousing & Logistics Show A key platform for knowledge sharing in Warehousing & Logistics Industry

The 10th-anniversary edition of the India Warehousing & Logistics Show (IWLS) is scheduled to take place for three days at the Bombay Exhibition Centre, Goregaon (E) in Mumbai from November 21st

Read more ...

Excon 2023 - Propelling India’s Technological Prowess & Global Stature

Excon 2023 - Propelling India’s Technological Prowess & Global Stature

Preparations for the upcoming Excon 2023 edition are in full swing, with organizer CII, in collaboration with various departments of the Karnataka state government, planning key activities for the attendees. No doubt, given the impressive stature of the

Read more ...

Terex India Hosts TEXCON 2023

Terex India Hosts TEXCON 2023

Terex India’s TEXCON 2023 event, held at its Hosur facility in Tamil Nadu, showcased an impressive line-up of Technological and Sustainable Solutions for Construction and Recycling Industries. P.P. Basistha reports. Terex, global manufacturer of materials

Read more ...

JCB India: Growing its Excavator Business Across Sectors

JCB India: Growing its Excavator Business Across Sectors

JCB India is leveraging its design and manufacturing capabilities to market its excavators as it aims to meet the rising demand from infra development projects. P.P. Basistha witnesses the company’s manufacturing prowess and wide range of products at the

Read more ...

Crane Owners Association of India Organizes 11th AGM

Crane Owners Association of India Organizes 11th AGM

Cowners came together for the 11th Annual General Meeting of Crane Owners Association of India (COAOI) on 29th September 2023 at the Taj Palace Hotel, Mumbai. The gathering included esteemed members of COAOI. SANY India was the event’s partner

Read more ...

ICEMA: Laying the Foundation for a Transformative Future

ICEMA: Laying the Foundation for a Transformative Future

ICEMA’s CE Technology Summit brought together industry leaders, innovators, and visionaries to identify key challenges in the development and adoption of advanced in-house technologies. “The Technology Vision Roadmap developed by the Construction

Read more ...

Demtech: Bigger & Better in 2023

Demtech: Bigger & Better in 2023

The second edition of Demtech 2023 Conference and Exhibition, held at Bengaluru on the 28th and 29th September 2023, played host to 450 delegates, representation from 10 countries, and 45 exhibitors. The success of Demtech 23 has once again proved

Read more ...

CCMA to organize 4th International Suppliers Conference 2023 on “Construction Chemicals for Next Gen”

CCMA to organize 4th International Suppliers Conference 2023 on “Construction Chemicals for Next Gen”

The 4th edition of the International Conference of Suppliers for leading manufacturers and suppliers of construction chemicals is being organized by the Construction Chemicals Manufacturers Association (CCMA). The conference will be held on 4th and

Read more ...

Mumbai to host 3-day India Warehousing & Logistics Show from November 21st

Mumbai to host 3-day India Warehousing & Logistics Show from November 21st

The 10th-anniversary edition of the India Warehousing & Logistics Show (IWLS) is scheduled to take place at the Bombay Exhibition Centre, Goregaon (E) in Mumbai from November 21st. This event, organized by RX India, a part of RX Global (www.rxglobal.com)

Read more ...

To get latest updates on whatsapp, Save +91 93545 87773 and send us a 'Saved' message
Click Here to Subscribe to Our eNewsletter.