According to a recent research report by MarketsAndMarkets, farm equipment market is anticipated to reach Rs. 10 Lac Cr globally by 2025 and Rs. 1.28 Lac Crore in India by 2024. The Indian agricultural sector has graduated from the initial stages of evolution of farm mechanisation and is poised for further growth.
Fuelling this growth is primarily increased awareness and education regarding mechanised farming amongst the farmer community through government and private sector initiatives. They want not just manufacturers but complete agricultural solution providers with crop based application and machinery approach who can help them achieve greater operational efficiency and profitability. Availability of government subsidies and private sector finance schemes has helped in opening avenues for the farmers to easily own these machines.