“Ghee khao desi, aur chalao Massey.” This is the advertising line that would come to mind for several Indians at the mention of tractor brand Massey Ferguson. However, the story of the brand, currently at the centre of a dispute between Tractors and Farm Equipment (Tafe) and United States-based AGCO Corporation, goes much beyond the advertisement.
It symbolises the grit, dreams, determination, and passion of a young India in the 1960s that tried to ensure that the agricultural sector, on which 80 per cent of the country depended for their earnings at that time, was modernised.
According to available data, the country had hardly 37,000 tractors in 1960, all imported and mostly war-surplus products. Even today, tractor sales are a key indicator of the agricultural and rural economy.
It was on January 1, 1961, that the founder of the Amalgamations Group, Sivasailam Anantharamakrishnan, fondly called J, started an office for Tafe on Kothari Road to manufacture Massey Ferguson tractors in India. Thus began the story of Tafe and one of the longest-standing trademark tie-ups.
J’s legacy was carried forward by his son, Anantharamakrishnan Sivasailam and now by granddaughter Mallika Srinivasan (Anantharamakrishnan Sivasailam’s daughter).
Tafe is the single largest shareholder in AGCO, the third largest farm equipment manufacturer in the world after Deere & Company and CNH Industrial. Yet, on Monday, AGCO announced termination of its agreements with Tafe, including the brand licence for Massey Ferguson tractors.
“Tafe is no longer an approved licensee, user, distributor, or seller of Massey Ferguson products,” the US company said, adding that the termination was due to inappropriate and unauthorised actions by Tafe.
Diese Geschichte stammt aus der October 03, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der October 03, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
39 of World's 100 most polluted cities are from India
China ranks 2nd with 30 cities in S&P Global Mobility survey
One tonne of paddy stubble burnt leads to 20 kg nitrogen loss in soil: Scientists
As Delhi and its adjoining areas reel from a thick blanket of bad air, senior scientists belonging to the Indian Council of Agricultural Research (ICAR) have said each tonne of stubble burnt leads to a loss of no less than 12-13 kg of phosphorus, 35 kg of potassium, and 20 kg of nitrogen in the soil.
Air woes: Delhi hospitals see 50% jump in OPD visits, admissions
Hospitals are witnessing a 40-50 per cent surge in patient visits due to respiratory illnesses, including symptoms of bronchitis and breathlessness, with major cities recording a severe jump in air pollution levels in the last 20 days.
New-age firms' growth gains priced in: Analysts
Investors advised to wait a few quarters before betting on these stocks
Rely on credit cards and unsecured loans, build emergency corpus
Handling the financial aspect of a medical emergency is often a daunting task, since it requires coming up with a significant sum at short notice. Households must prepare in advance for this challenge.
Moderated NTPC Green IPO price band with changing market sentiment: CMD
NTPC Ltd, which is the parent firm of the NTPC Green Energy Ltd (NGEL), on Tuesday said it moderated the price band of the initial price offering (IPO) to be in sync with the changing market sentiments.
Sebi notifies pro-rata distribution norms for AIFs
The Securities and Exchange Board of India (Sebi) has notified the changes in regulations governing alternative investment funds (AIFs) mandating them to provide investors rights and distribution of proceeds in proportion (pro-rata) to their commitments in the scheme.
BALANCED ADVANTAGE FUNDS REMAIN LOW ON EQUITIES
Majority ofthe larger balanced advantage funds (BAFs) raised their equity exposure in Octoberaftertrimmingthe allocation in the previous months. However, in most cases, the equity exposure remained closerto their respective multi-year low levels.
NeW initiatives, margin gain hopes positives for Delhivery
Logistics major Delhivery has had promising Q2FY25 results.
PE ancl VC companies adjust to longer holds after public listing
Startup IPO boom reshapes their investment strategies
