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Food grain demand is expected to reach 355 million tonnes in 2030 and farm mechanisation will be instrumental in meeting this demand, says Grant Thornton and FICCI report
Food grain demand in India is expected to reach 355 million tonnes in 2030 as compared to 250 million tonnes in 2016 and the enhancement of farm mechanisation market will play a key role in meeting this demand, says a Knowledge Paper by Grant Thornton and FICCI – “Mechanisation: Key to higher productivity to double farmers’ income” launched today at EIMA Agrimach India 2017. The knowledge paper further states that the farm equipment market in India is currently estimated at USD 8.8 billion in 2017 and it is expected to reach USD 12.5 billion by 2022 with a CAGR of 7.5 per cent.
Establishing the charging infrastructure is a significant challenge in adoption of Electric Vehicles in India: Grant Thornton-CII report
While India has pledged to have an “all-electric car production effective 2030”, the lack of charging infrastructure is one of the prime concerns for the Government of India (GoI) to achieve this milestone, finds Grant Thornton CII report - Sustainable NextGen Automotive Technologies - Imperative India released at the CII Conference today. India lags behind in the availability of charging infrastructure with 353 charging stations only spread across the country. Large number of these charging stations have been set up by the manufacturers of Electric Vehicles (EV).
The results of Grant Thornton’s International Business Report (IBR), a quarterly global business survey, reveal that business optimism in India has slipped from 2nd position in the last quarter to 7th position in the 3rd quarter of 2017. The scale and the report are prepared based on the results of a quarterly global business survey of 2,500 businesses in 37 economies conducted in September before the announcements of the big reforms by the Government on Bank recapitalisation, infrastructure investments particularly in roads, aggressive actions on insolvency and bankruptcy.