TNI || New Delhi || 16th April 2022
This fiscal year, Mahindra & Mahindra intends to substantially boost investments in its Farm Equipment Sector (FES).
They are putting their money where their mouth is and, as of April 1, they are doubling down on both financial and human resources.
FES President Hemant Sikka adds that they want to grow the entire agricultural machinery industry because they feel the country will gain greatly from this change.
R Sundararajan, who spent some time in Finland as Chief Operating Officer for Sampo Rosenlew, a company in which M&M has a near 80 percent stake, is currently in control of the R&D Centre of farm mechanisation in Mohali, Punjab.
As per Sikka, this demonstrates their complete commitment to the global centre of excellence (COE) infrastructure that has grown over time.
From his domain expertise abroad, Sundararajan has a wealth of knowledge and will now be in charge of the entire global COE and R & D development, Sikka says.
In addition, M&M is constructing a new global COE centre in Ankara, Turkey, wherein hiring has resumed in a significant manner under Sundararajan.
He will be in charge of global farm machinery R & D and will also take care of the activities in Turkey.
M & M has already employed a few folks, and a handful more will join in the next three to four months. Everybody, even the chiefs of all the COEs, reports to Sundararajan, Sikka explains.
M & M also plans to enhance its agricultural machinery exports from India.
They will continue to export from India, he continues, but in the philosophy of Atmanirbhar Bharat, whatever they manufacture in India will be for India and shipped out of India.
The second encouraging sentiment on exports is the dispatch of 18 sprayers from Nashik to Brazil recently.
This would be the first Nashik-based export order that was completed and produced in Nashik. What greater example of Atmanirbhar Bharat for the world, a jubilant Sikka exclaims.
Mitra Agro Equipment, wherein M&M has a 47 percent stake, has been entrusted with this duty.
The good news is that demand for sprayers is strong enough to keep the order book stocked. Other companies that import components into India and sell them here would face a stiff challenge from them.
They are creating it in India and are growing at 35%, Sikka explains. Clearly, agricultural mechanisation will gain pace in the future with better implements and global COEs in Turkey, Finland, and Japan, where M & M has built footprints over the years through strategic interests and acquisitions for the correct value chain.