HindustanTimes Fri,22 Aug 2014

Global agri equipment firms eye India, Rs. 1,000-cr investments likely

Manu P Toms, Hindustan Times  Mumbai, October 01, 2012
First Published: 21:05 IST(1/10/2012) | Last Updated: 21:07 IST(1/10/2012)

With farm mechanisation slowly gaining ground, India may see at least half-a-dozen foreign players setting up agricultural equipment plants in the country.


Close on the heels of Italy-based Maschio Gaspardo announcing Rs. 200-crore investment to set up a rotary tiller plant in Pune, German plough and cultivator maker Lemken said it would invest Rs. 115 crore in India.

"We have already invested Rs. 69 crore to set up our plant in Nagpur which will be operational this week," said Arvind Kumar, CEO, Lemken India.

Meanwhile, Kuhn, a French company that already sells a range of agro equipment in India, looks to set up its plant near Chennai.

According to industry sources, two other German companies Amazone and Grimme, which specialise in potato cultivation technology, also plan to enter India.

Major announcements by international companies are expected at the biennial Agro Tech 2012 at Chandigarh in early December. The initial investment commitment by all international players is estimated to be around Rs. 1,000 crore.

Many of agricultural equipment such as plough, tiller and harvester are fitted to tractors. What inspires the India entry of these foreign players is the country's large tractor market.

Incidentally, Indian tractor manufacturers such as Mahindra & Mahindra and TAFE also look at partnerships with international players to offer the whole range of agro equipment.

more from Business

Sensex up 111 points in early trade; Nifty touches new peak

The benchmark BSE Sensex rose over 111 points and the NSE Nifty soared to a new life-time high of 7,924.90 in early trade on Friday as IT, oil and gas, power and consumer durable stocks led the rally on sustained capital inflows.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved