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The India Tractor
Market is all set to witness a double digit growth of 16-18% in FY 2017 says
CRISIL. However the growth in February & March to only be in single digit
number as farmers still cope with the note ban and shifting towards using
digital payment modes.
The sales were revived as the
south-west monsoon came in normal. Rains were 97% of the long-period average,
timely and well-distributed, resulting in Kharif production increasing 10%
on-year (according to second advance estimates), and Rabi sowing also 5.7%
higher on account of sufficient reservoir levels.
Farmers had a good sowing season,
however due to the demonetization effect sales in November took a toll with de-growth
of 13% in November, a modest growth of 7% in December and 5% in January.
However the impact is expected to be short-term and sales should recover by the
first quarter of 2017-18.
With faster acceptance of
non-cash transactions in the states like Madhya Pradesh and Rajasthan, going
forward demand for tractors is projected to see healthy growth. Tractor sales would also benefit from
favorable budget announcements such as record farm credit disbursal of Rs 10
lakh crore and other rural development initiatives.
Based on this, we see tractor
volumes picking up in coming quarters, though, for lack of a low base as was
the case this year, fiscal 2018 could close with a relatively sober growth of
8-10%.
If you are interested in buying
pre-owned tractors than Shriram Automall is the right place to be at. The
company offers widest range of used tractors & other farm equipment at
optimal price to choose from.
You can also download its
‘MySAMIL Mobile Application’ to view upcoming events, inventories & even
place live bid on the vehicles & equipment you are interested in.
Know More - http://www.samil.in/MobileApp
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