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Deere aims to capitalize on Indian investment

Monday, March 7, 2011

Deere's $100 million investment in India also will see the company manufacture a special kind of tractor specifically for smaller-size Indian farms.
Deere's $100 million investment in India also will see the company manufacture a special kind of tractor specifically for smaller-size Indian farms.

The world's biggest farm and agriculture company is specially creating a tractor to maximize growth in India, Bloomberg reports.

After having announced a $100 million investment in the subcontinent in January, John Deere and Company has been manufacturing a 36-horsepower tractor for smaller farms in India. That model is significantly smaller than the 300-horsepower machine that U.S. farmers typically use.

"A farmer on one hectare of land could never afford that tractor," Samuel Allen, chief executive officer of Deere, told Bloomberg last week. "If you help them mechanize, that helps them go from using an ox to a tractor. They will be able to triple farm income because they will significantly increase production."

Deere of Moline, Iowa also is arranging another program for Indian farmers to capitalize on its investment. Deere and the state government of Gujarat, a Northwest India state, are planning a program to share farming equipment such as John Deere tractors and John Deere mowers with local tribal growers.

Part of Deere's motive is preparing for the expected continuation of high prices for agriculture.

"Between now and 2050, food output is going to have to double," Allen told the publication.

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