Home > Automobiles, Tyre > Indian Tractor Industry to grow by 60%: Crisil

Indian Tractor Industry to grow by 60%: Crisil

The Advance Estimates released by CSO revealed that agriculture and allied activities are likely to grow at 5.4 per cent in 2010-11 as compared to just 0.4 per cent in 2009-10 making a huge stride. Improved agricultural output together higher MSP (minimum supply price) will yield higher income in the hands of the farmer. This will augur well for the tractor industry.

Crisil Research projects tractor industry size to increase to about Rs 320-330 billion by 2014-15 from Rs 200 billion in 2009-10. This is a stupendous 60 per cent increase.

It estimates industry sales (including exports) to grow at a CAGR of 7-9 per cent in volume terms and reach a size of 6.4 lakh units by 2014-15. Domestic demand is projected to grow by 6-8 per cent by 2014-15 whereas exports are estimated to grow by 16-19 per cent.

Operating margins for tractor manufacturers are estimated to remain under pressure in 2010-11 and remain flat in 2011-12.

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Categories: Automobiles, Tyre
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