Project report for Agricultural Implements

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Introduction

The Indian farming sector is reliant to a great extent on agricultural equipment, since it helps in increasing productivity, at reduced costs, with lower human and animal effort.  Agricultural machinery relates to the mechanical structures and devices used in farming or other agriculture. Agricultural implements consist of a wide range of manual and mechanical tools such as threshers, cultivators, over plows, seed drills, chaff cutter machines, axes, etc. They help in reducing labor and improving the efficiency of agricultural activities. India has achieved considerable progress in the field of agricultural implements over the past decades. At the time of Independence, Indian farmers mostly used animal operated implements and hand tools for pulverization, compaction and smoothening of the soil. Later, the Green Revolution brought about large-scale farm mechanization which encouraged a significant number of farmers to opt for modern agricultural implements including combine harvesters, rice trans-planters, power tillers, threshers, tractors, pumping sets, etc. There are many types of such equipment, from hand tools and power tools to tractors and the countless kinds of farm implements that they tow or operate. Diverse arrays of equipment are used in both organic and nonorganic farming. Especially since the advent of mechanized agriculture, agricultural machinery is an indispensable part of how the world is fed. The agricultural machinery industry or agricultural engineering industry is the part of the industry, that produces and maintain tractors, agricultural machinery and agricultural implements. This branch is considered to be part of the machinery industry.

 

Market potential & Strategy

The Indian agricultural implements market reached a value of INR 7750 Crores in 2020. In India, the growing incomes of the farmers have boosted the demand for farm implements. In addition, acute shortage of skilled labour for agricultural activities has further led to the growing demand for agricultural equipment. Moreover, the attractive subsidies provided by the Central and State governments have also encouraged farmers to purchase modern agricultural implements. Agricultural implements include the use of tractors, harvesters, ploughs, and cultivators to assist in various agricultural activities. The use of agricultural implements helps to achieve low crop yield in less time and minimum effort. The growing trend towards converting traditional farm implements to sophisticated implements is promoting the growth of the agricultural implements market. The North American market dominates the global agricultural implementation market in terms of revenue contribution compared to markets in other regions. This is since there is a well-developed agricultural sector and a high awareness on the products available in the area.

The use of agricultural implements increases productivity, efficiency and productivity of every man. Mechanization increases land yield per unit area and leads to lower labor costs, resulting in better utilization of land and therefore increased farm income. One of the biggest advantages of agricultural implements is that they can replace manual labor. The main challenge of this market is the cost of acquiring the agricultural implements that is poised to affect the expansion of the market. In addition, lack of awareness among farmers about the benefits of using agricultural implements is a major deterrent to the market and lack of safety related regulations mainly in developing regions also set to hinder the market growth.

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