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China firm in JV with Todi

Company mulls over setting manufacturing base in country

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Zhejiang Sifang group, one of the leading agro machinery manufacturers of China, is keen to set up a manufacturing base in India. The company could form a joint venture with promoted by for the purpose.
The promoter of Bengal Tools, Ravi Todi informed that the Chinese group was now closely watching the development in the Indian market. If the size of the agro machinery and power tiller market becomes reasonably big then it would go for a manufacturing base.
Currently, Bengal Tools has a technical tie up with Zhejiang Sifang. "Now the market for power tiller in India is smaller than that of even Bangladesh. The size of Bangladesh market is 30,000 power tiller per year. On the contrary it is only 15,000 in India," he said.
According to Todi, Bengal Tools has achieved more than 40 per cent sales growth in power tillers in 2004-05. "We have sold 1,800 units compared to 1,300 units in 2003-04. This year we are planning to sell 2,500 units," he said.
One of the directors of Sifang group, Lin Guangping opined that the Bengal Tools will outperform its target considering the robust growth in the agro industry. The chief executive officer of Bengal Tools, S K Nag said BTL is planning to capitalise on the emphasis in the recent budget by the UPA government on irrigation projects under Bharat Nirman.
Incidentally, Sifang has presence in power tiller, harvestors, cultivators and plant protection equipment's.


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