"Major Drivers" for the Powered Agriculture Equipment Market in India

Statzymarket14 Mar, 2022Business

The sustainable and economic development of the country has always been dependent on agriculture and its allied sectors. In the previous years, 2016-17, agriculture contributed 17.4 percent of the country?s economy. And the demand for mechanization within the country has always been accelerating rapidly each year. The Powered Agricultural Equipment Market in India currently holds about 40-45 percent in terms of farm mechanization and this has been predominant in states like UP, Haryana, and Punjab among many others. The penetration rate of Powered Agricultural Equipment in such states is still considered negligible when compared to other countries such as the United States, Brazil, and China.