New Delhi
Mahindra and Mahindra Ltd (M&M), India’s largest tractor manufacturing company, is planning to invest Rs 2 billion to set up a dedicated plant for producing rice transplanters, potato planters and harvesters at Pithampur, Madhya Pradesh. The plant will start operations by Q4 FY22. Being Atmanirbhar, pursuing local manufacturing and localising the equipment for Indian farmers is Mahindra’s motive, stated Hemant Sikka, President, Farm Equipment Sector, M&M. For the same, the company is setting up the new plant.
Hemant Sikka detailed that the development of Mahindra’s ambitious K2 tractor series, which will be simultaneously launched in India, Japan and the US, remains on track. He also added that the tractor export was doing well with a 6% growth in export volumes last year.
According to him, Mahindra and Mahindra has witnessed an increase in the demand for farm equipment over the last year. With the pandemic-driven people movement and reverse migration to the rural areas, 2020 saw migrant labourers getting back to farm work, boosting the sales of the tractor, potato planter and rice transplanter.
Hemant Sikka expects the market for farm equipment to bounce back and expand more in the future owing to the COVID second wave’s spread in the rural areas. He added that in the next five years, farm mechanisation in India will grow with farmers realising its benefits.
Source: ET Auto
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