As the Indian economy continues to grow at a scorching rate, there are more opportunities for companies to make money in the world's second-largest country; John Deere recently announced that it will expand its manufacturing capacity in the country as it endeavors to profit from the subcontinent's burgeoning tractor market.

Deere plans to invest $100 million in both the construction of a new factory and the expansion of its current facility in Pune; workers at the agricultural giant's new factory will assemble small tractors that will be sold in the country and exported abroad, according to a Deere spokesman.

Deere chief executive Samuel R. Allen affirmed that the company hopes to expand throughout the globe as new opportunities arise. "John Deere will continue to pursue opportunities to grow in our core business of agriculture and construction equipment around the world," Allen said in a statement. "We have been successful in growing our tractor market share in India and will invest to continue that success."

Deere has had a presence in India for over 60 years; for the past five years, Deere has been the largest exporter of agricultural machinery from India.