Mahindra & Mahindra (M&M), part of the USD 19 billion Mahindra Group, headquartered in Mumbai, India, today announced a licencing agreement with the Dewulf group for manufacture and marketing of potato planting equipment in India. Under the aegis of this agreement, Mahindra will work with the Dewulf Group to bring its potato planting technology to the Indian market.

Potato is the world's fourth largest food crop, with India being the second largest producer. Each year, over 2 million hectares of potato is planted in India, yielding a production of about 40 million tonnes. With the ever increasing focus towards processing of potato, the demand for quality potatoes is expected to go up. This will require Indian farmers to use better machinery for potato planting. The potato planter, co-branded, Mahindra and Dewulf, will enable the Indian potato farmer to perform even and precise planting, thereby leading to higher yield, reduction in cost and improved quality of output. All this will lead to greater farm productivity and subsequently, higher income for the farmer.

Rajesh Jejurikar, President, Farm Equipment Sector, Mahindra & Mahindra, said, ''We are delighted to announce a partnership with the Dewulf Group, a Belgium based world class manufacturer of agricultural machinery. Our licensing agreement with the Dewulf Group will allow us to bring the latest planting technology to potato farmers in India.''

Shares of the company gained Rs 61.95, or 4.55%, to trade at Rs 1,423.45. The total volume of shares traded was 30,877 at the BSE (1.22 p.m., Tuesday).