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    LEAP India enters forklift renting biz

    LEAP India
    LEAP India, a supply chain solutions company, plans to venture into forklift renting business by ordering 100 forklifts from Toyota as part of its forward integration plans. The company will invest about Rs.15 crore on buying the forklifts and lease it to corporate for use in their warehouses. Leap is one of the largest suppliers of pallet on rent to leading automobile, e-commerce, dairy, beverages, pharma and FMCGs as its client. It recently signed agreement with Bosch India, Taco (Tata AutoComp Systems) and Endurance Technologies, one of the leading automotive component manufacturing companies, said Managing Director, Sunu Mathew, elaborating that with the roll-out of GST the size of warehouses are getting bigger and need smarter solutions for moving goods faster. The emerging scenario in the segment indicated that the demand for forklift is expected to increase to 20 lakh by 2022 from 2 lakh currently and that the company expects a monthly income of Rs.60,000 to Rs.130,000 from each forklift it plans to rent to corporate. The company also plans to increase the current pallet count from one million to three million in the next three years. It expects strong growth in its Foldable Large Containers business with the rapid growth in automobile sector spurring demand for transportation of spare parts.
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