Equipment Planet Helps in Selling or Buying Used Equipment both Transparently and Easily

"Indian rental market is currently far low as compared to western countries but it will increase on a major pace from now onwards as a part of Indian infrastructure growth story and also as customer preference on renting equipment is high," says Mr. Satin Sachdva, Managing Director, Equipment Planet, in an interview with Maria R where he mentions the pivotal role of Equipment Planet portal in selling, buying, and renting of used equipment transparently and bridging the gap between the entire community of construction equipment fleet owners across the country. "Our USP is pan India presence with vast experience of two decades for Inspections and valuations of quality and price of used equipment, machines and cranes."

What is the inspiration behind the evolution of Equipment Planet online portal?
The real inspiration behind the Equipment Planet is to bridge the gap between the entire community of Construction equipment fleet owners all across the country whether it's a contractor, hirer, trader, builder or any of the fleet owner who is truly facing the challenge of selling or buying the equipment in primary as well as secondary market. Equipment Planet plays a vital role in bridging this gap.

Some one has to break this ice by joining these dots and take this to a niche world of One Single stop Solution for a Construction equipment buy/sell/rent platform which caters all the needs by being transparent and simple. The idea pops up and India's First online web portal www.equiment-planet.com was launched with the flying colours.

What are your complete product portfolio and services? How does your web portal help in selling, buying or renting used equipment?
The product portfolio includes all road, earthwork, building, mining, drilling, material lifting construction equipment and all kinds of cranes covering almost all the brands and segments so that nothing will be left out.

Equipment Planet portal is an excellent platform to showcase and list the used as well as new equipment with the best of the photographs and details available including Hrs done, engine, hydraulics, body and other related features for used equipment. Our Free classified section covers all the queries to buy/sell/rent/spares and other related enquiries. Our USP is the inspection network of inspectors all across the country covering 500+ locations for any inspections and valuations for used construction equipment. Rental enquiries too reached to all our registered, fleet owners. Thanks to our huge database of Rental providers, Traders, contractors, corporates, dealers, Infrastructure companies, and even spare parts dealers. Just with a single click one can enter a world of organized construction equipment business.

What are the system placed to help your customs inspect and evaluate the quality and price of the used machines?
We are the first organized Indian platform with a past experience of more than two decades for inspection and valuation of used machines and cranes. Our Inspection comprises 50+ check points in any of the equipment which includes Engine, Transmission, Hydraulics, Body, Tracks/Tyres, Undercarriage condition with best of the pictures to help our customer takes the right decision with our authenticated inspection/valuation report.

The price of the used machine is a difficult task but again with our best expertise and experience we provide our customers with best of Fair market value and distress value as well. Valuation depends on many factors i.e. brand, Hours/Km done/Condition etc.

What is Equipment Planet's edge over its competitors?
Equipment Planet USP is Pan India presence as well as the experience of Inspections and valuations of construction equipment for the past two decades further add glitters to Equipment Planet. Although we don't believe much in competing others rather we are further competing with ourselves to make this platform much more customer-friendly and easy. We are going more tech savy and user-friendly. Equipment Planet inspection report includes 50+ check points to cover almost all features of used equipment. Also the vast database is another feather in our cap.

Do you think that there is a need of trading platform to promote financing of second hand equipment and machinery in the country?
Yes, we truly believe that there is a need to organize financing for second hand as well as new equipment. The market for financing is vast and some one has to break this ice too to claim a vast financing sector share which is still unorganized and in hands of few marketing agencies and individuals.

Machinery covers a big percentage of any of the project so does the financing as to fund the project.

In the current tough business scenario, how do see the equipment buying and rental business prospect?
Things will change massively and drastically now on to align the pace with the major infrastructure push in India. Many top foreign investment honchos are keen to play bullish card on India as the most favorite investment destination in the world. Rental players are getting more organized looking at current demands of a customer. Customers nowadays are looking for more quality with safety features and low fuel consumption asset. The branding awareness too is high amongst customers and they are more specific now as they do proper need analysis and then place an order.

Rental numbers undoubtedly will increase now as customer preference on renting equipment is high as in the past. Indian rental market is far low as compared to western countries where rental equipment share is close to 50% as compared to Indian rental market which is a mere 10-15% of the total equipment market share. But it will increase on a major pace from now onwards as a part of Indian major growth story. We will also be witnessing many foreign players entering into the Indian equipment market fuelling equipment base as a major push.

What are the current challenges the rental and buying business facing?
As the country is already facing lots of challenges related to our political instability and many other major issues related to govt as well as civic bodies, Rental persons and equipment traders are facing many hurdles, we are listing few of the common hurdles people are facing:

1. Interstate taxes and tedious documentation: Every states have their own rules and regulations with variable tax structure, entry taxes and documentation for renting/buying equipment in other states which is actually a biggest challenge for the persons related.
2. Unorganized Rental community: There is no status given to Indian rental industry till now so the major part is still very unorganized and lacking many of the privileges which many authenticated industries enjoy.
3. Lack of Unity: There is no such association or a union body till now that can actually resolves many of the disputes arising due to non payment and many other harassments to a rental provider or a trader.
4. Delayed and stalled projects: Due to many Govt policies and inflation, many of the contruction projects got delayed or completely stalled which has resulted in bad debts as well as cash crunch in the market leading to very uncertain market scenario. Lots of payments got stuck in this process and many private players lost the sheen in these 2-3 years.
5. Lack of Man power: This one is a major problem as India is lacking skilled operators as well as technicians. Basic education regarding machinery maintanence as well as operating should be made mandatory to avoid these challenges for smooth running of expensive equipment.

What is your take on the import of used equipment?
Dollar prices hike and rising inflation has reduced imports for all used foreign products and machinery at present times. Only few specialized machinery and cranes (Hydraulic Truck mounted and crawler cranes) imports are happening in India. Imports of used machinery will take some more time to pick up. Exports in fact are happening for International brands i.e. Caterpillar, Volvo, Ingersoll Rand, Dynapac, and few other. Taxes, Customs and transportation expenses too take an additional toll to hike import prices.