Dow Jones Business News
MUMBAI - Deere & Co., the U.S.-based farm-equipment maker, said Thursday it has broken ground for its second India tractor factory where it plans to invest $80 million.
The new factory, to be set up in central India's Madhya Pradesh state, will build small tractors to be sold locally and overseas, the company said.
The company's first tractor factory is located in Pune city, in the western state of Maharashtra.
Deere also has a joint venture with Indian commercial-vehicle maker Ashok Leyland Ltd. to make construction equipment at a factory in the southern city of Chennai.