Escorts to Expand Agri Solutions Business
Farm equipment maker Escorts is gearing up to expand its agri solutions business offering a full range of mechanisation services to farmers on a single platform, says managing director Nikhil Nanda. The company has been running pilot projects under Escorts Crops Solutions in Andhra Pradesh and Odisha and is now looking to scale up the business “significantly” in the next five to six years, for which it is open to partnerships. Besides, Escorts is preparing to raise its tractor production capacity to 1.5 lakh units annually in the next 20 months, from the current 82,000 a year.
top official of the company's Indian arm. LG Electronics India (LGEI) is in talks with several mobile network service operators to form a partnership to roll out IoT-based products. “May be by the end of this year or early next year our first IoT product would be introduced in India,” LGEI managing director Ki Wan Kim said. He said that while the company's parent has already been selling such products in Korea, in India the wait is due to the need of partnerships with telecom service providers for data connectivity.