Get All Access for $5/mo

How Govt would promote Agribusiness via Farm Machinery India's farm equipment likely to grow to $18 Billion by 2025 from $13 Billion in 2019: FICCI

By Vinayak Sharma

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Entrepreneur India

Speaking at "EMI AGRIMACH 2019' organized by FICCI, Parshottam Rupala, Minister of State for Agricu lture & Farmers' Welfare, Govt. of India, mentioned about government's plan to promote the utilization of additional farm machinery in the future to gain improvement in awareness about diversified usage of mechanization and credit support in order to access advanced technologies without hindrance.

According to Rupala, because of the scarcity of information regarding the advantages of using equipment and practices in terms of production and yield, agribusiness is not flourishing. He said that capacity building of local manufacturers in terms of quality and production would not only produce better equipment but also let them gain access to a larger market.

Parshottam Rupala pointed out that sustainable mechanization technologies needs to be developed and promoted to address the challenges associated with crop residue burning.

Itay Investment in Agriculture Sector

According to Alessandro Liberatori, Trade Commissioner, said "Italian Trade Agency, India and Italy have been sharing strong bilateral trade relations. Companies have been increasingly fostering their interests in India and Italian investments are expanding in India. Companies are specifically increasing their investments in Agriculture sector."

He added that Italy will focus on developing newer customized technologies and support the Indian agriculture sector.

Alessandro Malavolti, President, FEDERUNACOMA, Italy, said that mechanization is not only important to increase productivity but it is also important to combat the problems of climate change.

India is also one of the largest manufacturers of equipment such as tractors, harvesters and tillers. Domestic sales of tractors have increased from 3 lakh units in FY09 to 7.8 lakh units in FY19, registering a phenomenal CAGR of 10 per cent%. Farm mechanization in India is in the initial stages, with the mechanization level ranging from 40–45 per cent which is very low compared to that in developed economies, where mechanization has reached beyond 90 per cent

Vinayak Sharma

Entrepreneur Staff

Correspondent, Entrepreneur India

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

Multiples Private Equity Leads INR 1000 Cr Funding in Shubham Housing

With the raised funds, the Gurugram-based platform aims to propel its growth trajectory, diversifying its product offerings and strengthening its national footprint.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

News and Trends

Former Cleartrip CEO Ayyappan R Eyes Quick Commerce with FirstClub

After stepping down as Cleartrip's CEO earlier this year, Ayyappan brings his expertise from leading positions at Flipkart, including his role as chief business officer at Myntra.

Growing a Business

5 Effective Strategies to Boost Your Business's Online Presence

Boosting your online presence in 2025 is the key to success for businesses looking to grow. Working on your branding and reputation management is important to drive more sales and improve conversion.

Growth Strategies

Amazon To Improve Services In Tier II, III Cities: Samir Kumar, Country Manager

The bigger share of our business is coming from Tier II,III and beyond, says Samir Kumar, country manager, Amazon India