The market reached Rs 954.3 bn in 2020
Market research firm IMARC Group report titled, “Indian Agricultural Equipment Market Manufacturers: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” informed that the Indian agricultural equipment market reached a value of Rs 954.3 billion in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026.
The Government of India (GoI) has been promoting agricultural equipment by undertaking various initiatives, including providing subsidies and incentives and establishing financial institutions. Furthermore, leading players are increasingly introducing advanced equipment integrated with Big Data and Internet-of-Things (IoT), such as self-driving autonomous tractors, which is contributing to the market growth.
