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India exported $782.93 million Farm Machinery to developed countries in 2019-20

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Indian companies exporting agriculture machineries and equipment are drawing extra orders from Europe, US and  other advanced countries. Europe as Italy and a few East European international locations known for their farm machineries manufacturing business are affected by the Covid-19 pandemic, stated by  Nipha Exports Private ltd, owner Mr. Rakesh Shah who is a leading exporter of agri machineries.

Mr. Shah, who also a former chairman of Engineering Exports Promotion Council of India (EEPC India), was delivering a speech at  digital press convention in reference to FarmMech 2020, an EEPC digital expo that scheduled to be held from Tue, 24 Nov to 28 Nov, 2020.

Also Read: FarmMech 2020 – Virtual exhibition on farm machinery and equipment

Indian corporations are trusted by European nations, though Thailand and Brazil are main rivals in exporting farm equipment and machineries. Similarly, OEM (original equipment manufacturer) products from India have a sizeable market in Europe, Mr. Shah stated.

EEPC India’s Chairman Mahesh Desai stated that India has been witnessing a main exporter within the farm equipment space for years. In addition to this Mr. Desai stated that “India is the leading exporter of solar irrigation pumps in the world. India being largely an agricultural economy, farm mechanisation has a remarkable potential in country.”

However, India still has a very small pie in farmer’s machinery and equipment export market. India’s export of agricultural equipment throughout 2019-20 was 1,024.58 million US Dollars with a positive trade stability of 708.3 million UD Dollars, Mr. Parshottam Rupala, mentioned the Minister of Statement of Agriculture.

Export Business in 2019-20

Year 2019-20 has been a good year for Indian farm machinery export business which has exported 782.93 million US Dollars  worth of agriculture equipment to North America, Eastern Europe, European Union, United Kingdom, Africa, ASEAN and SAARC countries throughout 2019-20, accounting for 76.41 per cent of those exports.

Also Read: Usage of Latest Technology and Modern Machineries in Agri Sector

Mr. Shah stated fifty Indian companiesincluding Bull Machine Pvt Ltd, Nipha Exports Pvt Ltd, Tractors & Farm Equipment Ltd and Escorts Agri Machinery, have revealed curiosity in exhibiting their products on the four-day digital expo, which is showing 70 to 80 patrons are registering per day.

Tractors account for almost two-thirds of farm machinery and equipment exports from India, stated EEPC India’s Vice-Chairman, Mr. Arun Garodia. Haryana government is the partner State of FarmMech 2020 whereas Agricultural Machinery Manufacturers Association – AMMA India – is the supporting association.

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