MoU between Govt. of Telangana and Tirth Agro Technology Pvt. Ltd

Memorandum of Understanding was signed between Govt. of Telangana and Tirth Agro Technology Pvt. Ltd for setting up of Centre of Excellence and manufacturing facility in the State of Telangana for manufacturing Farm Machinery.

Shakthimaan is the largest manufacturer of farm machinery in India with a market share of more than 50% and exporting to more than 77 countries with a revenue of 725 crores in 2016-17. They intend to set up centre of excellence and state of Art manufacturing facility in the state of Telangana in an area of 200 acres where farm machinery such as Rotary Tillers, Power Harrows, Mechanical Seed Drills, Compost shredders, Flail Mowers etc. and field demonstration plots, horticulture plots, water harvesting plots and Assembly line for manufacturing will be established.

Hyderabad will be the 2^nd manufacturing facility in the country after Rajkot for Shakthimaan. The company Chairman has said that the Manufacturing Hub at Hyderabad will serve as a gateway to South India and will increase their business in South India and also will generate revenue for the State Govt.

The proposed company will generate direct employment for 500 people and indirect employment for about 1500 people.

The proposed Centre of Excellence aims to improve the process of farming in India by introducing new and advanced techniques and also skill upgradation to the Farmers and students. Hands on training in modern agri implements will be provided which aims to transform the farmer to Farm Entrepreneur by increasing the crop yields, doubling the farm income with low operating costs.

K. T. Rama Rao has informed the Management team of Shakthimaan that the Govt. of Telangana main priority is to encourage local manufacturers which provide employment to the local youth. The Govt. will provide support to the Industry by Agriculture dept. and Industries dept.

The Minister informed that Telangana is the fastest growing State in the Country with a revenue surplus economy and has secured 1^st rank in Ease of Doing Business in the Country which reinforces the fact that the Govt. places highest importance for the Industries and the only state in the country to have the Self-Certification system which enables the entrepreneurs to commence their industry without waiting for approvals after 15 days of applying for permissions.

The Govt. will provide all the necessary support to Shakthimaan for setting up of their industry in the state of Telangana.

The MoU signing programme was attended by K. Taraka Rama Rao, Minister for Industries & Commerce, ITE&C,  Jayesh Ranjan IAS, Principal Secretary to Govt. Industries & Commerce,  E.Venkat Narsimha Reddy, VC&MD, TSIIC, Ashwin Gohil, Chairman, Shakthiman Agro, Brijen Sampat, Financial Advisor, Dinesh Vashist, Chief Sales & marketing Officer.