The agricultural machinery market in India, which is expected to grow at a CAGR of nearly eight per cent from 2015-2019, says a report by the London-based Technavio, a tech-focused research firm.
The report highlights the rising population in India, which is leading to an increased demand for food, enabling end-users to adopt efficient farm cultivation to cope with this demand.
The real value of agri-food demand in India is likely to rise by 136 per cent between 2009 and 2050, said the report, citing the Australian Department of Agriculture.
“Although the arable area has not increased in proportion to the demand for food, farmers are increasing the efficiency and speed of production by adopting advanced agricultural machinery to meet this demand,” Faisal Ghaus, Vice President of Technavio, said in the report.
The report also features technologies such as GPS tractors, syndicates, and sprayers that have helped farmers turn a small amount of land into a source of profit.
Technavio, founded in 2003, is a leading global technology research and advisory company and covers more than 500 technologies across 80 countries.
Read more of Agricultural Machinery Market in India report at http://www.fii-news.com/strong-farm-machinery-demand-in-india/
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