DUBLIN--(BUSINESS WIRE)--The "Agriculture Implements Market in India 2024-2025" report has been added to ResearchAndMarkets.com's offering.

This research report aims to provide detailed analysis on the overall market, a state wise split of the market, market share by different OEMs, market share and size of by capacity rating and provide unparalleled insights on initiatives taken by different states to accelerate growth in the agriculture sector, ground reality on what farmers make of the government support, how it will translate to improved spending on technology absorption and what it will mean for agriculture equipment OEMs.

The report will be delivered through a mix of primary and secondary research and will be an indispensable source of insight and information for companies to future proof their growth plans.

From 56.5% in 1950-51 to ~17% in 2016-17, the share of Agriculture in India's GDP has been on a continuous decline. The reversal of this decline, will be critical to ensuring India's GDP consistently grows at over 8% in the times to come. Agriculture plays a vital role in India's economy.

Over 58 per cent of rural households depend on agriculture as their principal means of livelihood. The government has realized that to catapult India into 8% GDP growth trajectory, will only be possible if all the three sectors i.e. Agriculture and Allied, Industry and Services, grows in tandem from strength to strength.

As per Niti Aayog CEO, Amitabh Kant, India cannot achieve 9-10 per cent GDP growth without revolution in the farm sector. India's farm yields need to improve and hence the entire farm and agriculture ecosystem, needs a revival steroid; Crop yields in India are still just 30% to 60% of the best sustainable crop yields achievable in the farms of developed and other developing countries; and poor infrastructure and unorganized retail means India has one of the world's highest levels of post-harvest food loss.

The mere waiver of outstanding farm loans may not be sufficient and the Government will have to work on the underlying deficiency in the farm sector and this can be done through, augmenting irrigation facility, efficient supply chain for consumption of produce and supply of fertilizer and seeds, cheaper credit facility, crop insurance, regular revision of MSP, mechanization etc.

Farm mechanization in India is 40 percent compared to 95 percent in the US and Western Europe, 80 percent in Russia, 75 percent in Brazil and 48 percent in China and hence is a gap which will have to be filled for infusing growth momentum in the sector. Mechanisation can result in savings of 15-20 percent in seed and fertilizer consumption, savings in time and labour costs and the enhancement of farm productivity.

Mechanisation is concentrated on tillage and seedbed preparation and harvesting. More than 50 percent harvesting of wheat and rice is mechanized and harvesting of the rest of the crops with machines is less than five percent. In tillage, old types of equipment such as cultivator and disc plough are still used. It is further estimated that the use of proper equipment can increase the crop productivity by up to 30 percent and reduce the cost by about 20 percent.

Farm mechanization will gain momentum in the times to come and this will be enabled through increased subsidy outlay under different schemes of state as well as central government. Mechanization will be infused into the agriculture sector through custom hiring center models to enable efficient community level farming, direct subsidy to farmers for purchase of required farm implements. For the benefit of the farming community especially for marginal & small farmers for whom ownership of implements is difficult, promoting the establishment of more CHCs is essential for the future of the industry.

On the other hand, these centres could play more than the traditional role of renting the machines. These centres can be used as a central hub for promoting the right implement at the right time at the right price for right crop and conditions. Farmer producer organizations (FPOs) can be encouraged to adopt and start their own CHCs for the larger benefits of the farmer community.

Eventually, better infrastructure and technology diffusion are key to improving agricultural production. And the Government will do everything possible to fast track the reform process that will transform and eventually lead to growth in the agriculture sector. Investing in smarter value chains, improving access to credit, technology and markets, insulating farmers from environmental shocks, will create the desired ecosystem. It will be only safe to say the best growth is yet to be seen by these OEMs.

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T. Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

Agricultural Machinery, Combine Harvester, Corn Combine Harvester - Zhonglian,https://www.zlcombineharvester.com/