>Indian agriculture and tractors

Highlights of the Indian agricultural sector

• Has always been a key sector of India’s economy
• Currently contributes ~18% of Indian GDP
• Accounts for ~10% of India’s exports
• Second largest producer of rice and wheat in the world
• Largest producer of pulses
• Fourth largest producer of coarse grains
• Second largest producer of vegetables, groundnuts and fruits
• Current average growth rate: 2.8%

Highlights of the Indian tractor industry

• The Indian tractor industry has developed over the years to become the largest tractor market in the world.
• From just about 50,000 units in the early eighties, the size of the tractor market in the country has grown to over 600,000 units.
• Increased use of tractors for haulage and non-agricultural applications.
• The opportunities are still huge considering the low farm mechanisation levels in the country, when compared to other developed economies across the world.
• After a splendid performance during the last two to three years, the Indian tractor industry is believed to head for a slowdown, which we believe is a myth.

To read full report: AGRICULTURE AND TRACTORS

RISH TRADER