TN GIM 2024: TAFE has launched EV tractors to be future-ready in farming industry, says Lakshmi Venu

Tamil Nadu Global Investors Meet (GIM) is a two-day event opened on January 7 at Chennai Trade Centre.

Lakshmi Venu, the managing director of Sundaram Clayton and director of TAFE Motors, on January 7 said that TAFE Motors has launched electric tractors for the first time to be future-ready within the farming industry.

“Within our organisation, sustainability has been a big driver for change. Our traditional tractors continues to be at the forefront. However, we have recently launched electric tractors with auto steer and farm management system, to be future-ready for what Indian farming will be in the coming years,” Venu said at a panel discussion on 'young leaders driving transformation in business' at the Tamil Nadu Global Investors Meet (TN GIM) 2024, held in Chennai.

Tamil Nadu Global Investors Meet (GIM) is a two-day event opened on January 7 at Chennai Trade Centre. This edition will have nine partner countries and more than 30 participating nations.

Venu, who is the daughter of Indian billionaire Venu Srinivasan, the chairman emeritus of TVS Motor Company, also said that the firm will be tapping on the engineering and R&D talent within Tamil Nadu.

“Today, as engineering and technology is at the forefront, we are very fortunate to be here to use the state’s advantages to build us along with the university ecosystem for research and development,” Venu said.

Investment in research and development is key for transformation, added Rahul Mammen Mappillai, managing director of MRF Ltd, during the panel discussion.

“We have actually built a mini factory only for R&D so engineers can go in there to tap the technology, under no production pressure. The factory is only meant to build R&D tyres. And in six months time, we will have a test track coming up right next to it,” Mammen Mappillai added.

In order to develop the research ecosystem, the academia and universities play a pivotal role, said Shankar Vanavarayar, Chairman of CII Tamil Nadu.

“Looking at the data, only about 4-8 percent of people who finish PhD continue with research in India. Even though we have a high level of PhDs coming out every year, we do not see them coming into the workforce. We need to work with the regulator, universities and government to make research studies very industry-oriented,” Vanavarayar said.

Skilling within specific segments in newer technologies like machine learning and EV technology should be improved to be ready for Industry 4.0, said Anjali Singh, executive chairperson of Anand Group.

“I think we really have in TN some of the best minds and very large workforce that is able and ready…with transformation in technology, what we really need is a collaboration between academia and the state along with industries to make sure some programmes are built at the right time,” Singh said.