India’s goal of greater agricultural efficiency is predominantly implemented through agricultural mechanization. Mechanization integrates the vast world of fertilizers and bio-stimulants to increase crop yields and environmental sustainability. These are all technological fields in which Italy provides an important contribution. Italy is already well-positioned in India both as an exporter and as a producer in various groups.
According to a 2020 analysis by the Ministry of Foreign Affairs, India is the third-largest market for Italian machinery exports, with a value of around 1.3 billion euros. A fair share of that is agricultural machinery. In India, a wide variety of domestically and internationally produced tractors are used.
The crucial factor is the industrial localization of agro-mechanics. Among the Italian firms producing machines and equipment in India are BCS, Maschio Gaspardo, and SAME. Bonfiglioli and Carraro produce transmissions, reducers, and axles. There are also braking systems from Safim Brakes, while Ognibene and Mita manufacture hydraulic systems and filters respectively, and Ama deals with accessories. Isagro is operating in the field of agro-pharmaceuticals. In India, these companies also have thousands of employees.
The Indian market for agricultural equipment will increase in value from 11 to 15 billion euros over the next three years, strongly encouraged by government policies and ease of bank financing. India’s agricultural sector employs over 70% of the country but these activities only contribute 17% to the GDP.
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Courtesy: artvalley