Indian automobile manufacturer Mahindra & Mahindra is keen on establishing an assembly plant in Bangladesh for agricultural machinery.

The Mumbai-based company will also take the initiative to build up skilled manpower capable of using and maintaining modern technology at the marginal level.

It also plans to give loans to farmers taking into consideration financial constraints and the high prices of agricultural machinery.

Pawan Goyenka, its managing director and chief executive officer,

made these comments during an online meeting with Agriculture Minister Muhammad Abdur Razzaque, according to a press release from the agriculture ministry.

Mentioning that the government is putting emphasis on farm mechanisation, Razzaque said subsidies amounting to Tk 200 crore was provided to farmers last year so that they could buy equipment like combine harvesters and reapers.

Bangladesh's annual market for agro-machinery now stands at $1.2 billion and continues to grow by 10 per cent and India has the opportunity to invest in this large market, he said.

The Mahindra & Mahindra is interested to invest here as there is a huge scope for mechanisation, he added.