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Favorable monsoon is likely to
brighten outlook for recovery in microfinance, and will be a boost for tractor
and commercial vehicle loans.
The monsoon season in India
starts with the arrival of the rains on the southern Kerala coast around June
1. Its progress triggers planting of summer crops.
After hitting the south coast, it
takes about a week to cover the coffee, tea and rubber growing areas of south
India. It spreads to the rice areas of eastern parts in the first 10 days.
It usually covers half of the country in the first fortnight and enters the oil seed-producing areas of central India in the third week of June. Cotton areas in the western region get rains by the first week of July. It covers entire country by mid-July.
It usually covers half of the country in the first fortnight and enters the oil seed-producing areas of central India in the third week of June. Cotton areas in the western region get rains by the first week of July. It covers entire country by mid-July.
Half of India's farm output comes
from crops planted during the first half of the June-September season.
Therefore with monsoon hitting in
India, industry can expect the season to boost tractors & commercial
vehicle demand. As the monsoon rains are vital for farm output and economic
growth in India, the world's second-biggest producer of rice, wheat, sugar and
cotton. Farm sector shares for about 15% of India's nearly $2 trillion economy
i.e. Asia's third biggest.
According to the India
Meteorological Department (IMD) and private forecaster Skymet normal and
well-distributed monsoon is expected i.e. rainfall is expected to be 96 per
cent ±5 per cent of the long period average.
With road transport being a major
means of transporting agriculturally produced goods from the farms to the
market, commercial vehicle operators are expected to benefit from a normal
monsoon.
If you as well are looking
forward to boost your sales by making process of transporting good both easy
and convenient, buy a used tractor or commercial vehicle from Shriram AutomallIndia Limited (SAMIL).
Through sprawling 68 Automalls
across the country, company offers used vehicles or equipment of every make and
model at optimal prices.
You can both visit your nearby
Automall or click the link below to start the procedure.
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