A Memorandum of Understanding (MoU) was signed between Telangana government and Tirth Agro Technology Private Limited (Shakthimaan) for setting up Farm Machinery industry.
HYDERABAD: Shakthimaan is the largest manufacturer of farm machinery in India with a market share of more than 50 per cent and exporting to more than 77 countries with a revenue of Rs 725 crores in 2016-17.
They intend to set up centre of excellence and State-of-Art manufacturing facility in the state in an area of 200 acres where farm machinery such as Rotary Tillers, Power Harrows, Mechanical Seed Drills, Compost shredders, Flail Mowers etc. and field demonstration plots, horticulture plots, water harvesting plots and Assembly line for manufacturing will be established.
Hyderabad will be the second manufacturing facility in the country after Rajkot for Shakthimaan.
Speaking on the occasion, Shakthimaan Chairman Ashwin Gohil said that the manufacturing facility here would serve as a gateway to South India and would increase its business and also generate revenue for the State.
Industry Minister K T Rama Rao said Telangana was the fastest growing State in the Country with a revenue surplus economy and had secured 1st rank in Ease of Doing Business in the Country which reinforces the fact that the Government places highest importance for the Industries and the only state in the country to have the Self-Certification system which enables the entrepreneurs to commence their industry without waiting for approvals after 15 days of applying for permissions.
The Government would provide all the necessary support to Shakthimaan for setting up of their industry in the state, the Minister added.
The proposed company will generate direct employment for 500 people and indirect employment for about 1500 people.
The proposed Centre of Excellence aims to improve the process of farming in India by introducing new and advanced techniques and also skill upgradation to the farmers and students. Hands on training in modern agri- implements will be provided which aims to transform the farmer to Farm Entrepreneur by increasing the crop yields, doubling the farm income with low operating costs.