India Tractor industry is one of the largest which is considered as the major industry and significant contributor to its agriculture output gains. Tractors are contemplated as the barometer for the state of rural economy in India.
Relatively tractor industry was young initially but now, it has become the largest market worldwide, accounting one-third of the global production.
Indian tractor market has come a long way as volume growth in past 4 decades show a CAGR of 8%, despite seasonal vagaries, plummeting and boosting, tractor demand has grown to over 600,000 units from 50,000 units in early 1980’s.
The Union budget 2017 gave a push to market reforms in agriculture, increased funding for crop insurance and set a higher target for farm credit, as the government moved to tackle distress in rural India. Similarly Shriram Automall is pushing its limits to help the Indian farmers acquire the best of agricultural equipment at optimal price with easy finance facility through STFC.
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Relatively tractor industry was young initially but now, it has become the largest market worldwide, accounting one-third of the global production.
Indian tractor market has come a long way as volume growth in past 4 decades show a CAGR of 8%, despite seasonal vagaries, plummeting and boosting, tractor demand has grown to over 600,000 units from 50,000 units in early 1980’s.
The Union budget 2017 gave a push to market reforms in agriculture, increased funding for crop insurance and set a higher target for farm credit, as the government moved to tackle distress in rural India. Similarly Shriram Automall is pushing its limits to help the Indian farmers acquire the best of agricultural equipment at optimal price with easy finance facility through STFC.
Read More