EquipNet India Celebrates 10 Years

On Sep. 18, 2017, EquipNet India, a subsidiary of EquipNet, a laboratory equipment supplier, celebrated its 10th anniversary in the surplus asset management market. The Indian subsidiary has been operating from its Mumbai headquarters since 2007.

“Surplus asset management is being recognized as increasingly critical, and many companies realize that they do not have the resource or skill base to tackle the issue in-house,” said Krishnamoorthy Vishwanathan, managing director of EquipNet India, in a company press release.  “Choosing when to invest internal resources in a specific activity and when to seek external help is a tough, but essential, management task. Defining and focusing on core company strengths and recognizing the need for expert support in other areas will ensure operational efficiency and can have a major impact on the bottom line.”

According to an IBEF report, the Indian market has experienced an almost 8% growth rate from 2016 to 2017. By 2020, it is estimated that India will become the fifth largest manufacturing country in the world, creating 100 million new jobs by 2022.