Mumbai, July 10:
International Finance Corporation (IFC) has invested Rs 68 crore in the Indian arm of Italian farm equipment manufacturer SAME DEUTZ-FAHR. IFC is a part of the World Bank Group.
This investment is aimed at upgrading SAME DEUTZ-FAHR’s plant in India to design tractors suited to Indian requirements.
The facility will produce tractors and engines for both local and international markets.
“The use of agricultural machinery will help to achieve higher output per acre, which has been low in India,” said Mr Thomas Davenport, IFC Director for South Asia. “The project will help boost farmers’ income, and also promote small businesses that service farm equipment.”
Keywords: IFC, invest, Indian arm, Italian, farm equipment manufacturer, tractors
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