Domestic Tractor Volumes Set To Touch All Time High

The domestic tractor industry volumes are set to touch an all-time high in the current fiscal, industry sources claim.

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They draw attention to an improvement in farm sentiments on the back of two consecutive normal south-west monsoons. Stressing upon augmented cash flows of the farm community aided by favourable crop cycles over the past two years coupled with increased income from non-agri sources, analysts at ICRA opine that government (support) programmes, adequate financing availability and a revival in replacement demand in select regions has provided an impetus to tractor demand. They estimate the growth in tractor sales in the region of 12 to 13 per cent in the current fiscal. Over long-term, the growth is expected to be in the region of eight to nine CAGR. The Indian tractor industry recorded a robust growth in volumes of 15.7 per cent in the period between April and November 2017 according to