KisanKraft Ltd, govt of Andhra Pradesh sign Rs. 75 crore MoU

ANI | Updated: Feb 26, 2018 17:17 IST

Bengaluru (Karnataka) [India], Feb 26 (ANI): KisanKraft Ltd, manufacturer and wholesale distributor of high quality agricultural equipment for small and marginal farmers on Monday signed a Memorandum of Understanding (MoU) with the government of Andhra Pradesh for a Rs. 75 crore multi-faceted project focused on agriculture technology.

The MoU was signed in the presence of chief minister, Andhra Pradesh, N. Chandrababu Naidu, and minister of agriculture, Somireddy Chandramohan Reddy.

With this MoU, KisanKraft will set up a facility in Andhra Pradesh to manufacture various machinery for small and marginal farmers, such as inter-cultivators, BIS:ISI approved engines, water-pumps, and expand it to add more products.

This project will also have R&D and testing facilities for development of new machinery, draught resistant seeds and related technology.

Additionally, KisanKraft will setup a training and demonstration center for farmers, technicians and rural youth.

This facility is expected to be spread across 20 hectares of land, and will help bring advancements in the agricultural sector and aide in improving farmers' income.

"After bifurcation of Andhra Pradesh and Telangana, very few industries are left with Andhra Pradesh. This government is making all efforts to bring back the growth and development to the sunrise state Andhra Pradesh. We would welcome and give necessary support to the industries with credible background in the field of agriculture and biotechnology and who can contribute to the development and welfare of the farmers in Andhra Pradesh," said minister of agriculture, Somireddy Chandramohan Reddy.

"We have witnessed a huge drop in number of farm laborers in the last two to three decades. Migration from rural to urban areas due to reduced incomes in agriculture is the major reasons for this acute shortage of labor. With the establishment of such a facility, we will focus on mechanization of small and marginal farmers to increase farmer's profits and further advance the development of this sector. This project will also facilitate the creation of hundreds of direct jobs across the board for skilled, semi-skilled and unskilled workers and thousands of indirect jobs by creating village level entrepreneurs," said managing director, KisanKraft Ltd, Ravindra K Agrawal.

Welcoming KisanKraft Ltd's project, Dr. P Krishnaiah, Chairman of Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC) said "Agriculture can become sustainable only when it is profitable. Profitability is possible only by adopting modern tools and knowledge relevant to small and marginal farmers".

KisanKraft will begin operations in the new facility with the manufacturing of inter-cultivators and BIS:ISI approved engines, water pumps.

The second phase of operations will be conducting R&D for machine and seed development. The company will also conduct demonstrations and training for farmers to create awareness of available machines, their suitability and cost economics.

A full-fledged service center will also be setup to service and repair machinery of nearby farmers. (ANI)

iocl