Agriculture Policies of Modi government and Indian economy is on the bullet train to achieve its goal and to become world's fastest-expanding will likely help India's tractor industry reach record sales in the financial year that began this week.
If the industry succeeds to conserve the raised growth in the financial year 2018, it may wash out the record set in last four years ago. In the financial year 2017, the tractor makers registered 18% growth by selling 582,000 units. Even if the industry succeeds to maintain the growth of 10% in financial 2018. It would touch 640,000 units, higher than 631,000 units sold in the financial year 2014.
“The overall effort from the government and the emphasis on the farming sector are very visible, which is an enabling factor for growth,” said Rajesh Jejurikar, president for the farm equipment sector at Mahindra & Mahindra.
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