The economic and business rationale for sharing is strong, both for start-ups and incumbents
Urban Indians have become increasingly familiar with ride-sharing applications in recent years. It’s hardly a surprise to see people of all ages hailing an Ola or an Uber to get them across town. The dramatic growth of such services coincided with the profusion of smartphones across diverse segments of age and income. The phenomenon of “sharing" assets is however, not confined to urban India. Mahindra and Mahindra Ltd (M&M), the well-known maker of transportation equipment, sensed a large untapped opportunity in India’s vast countryside. Only around 15% of India’s 120 million farmers used mechanical equipment because they either could not afford to buy it or because renting options are too difficult.