ALSO READIndia Inc hails Economic Survey II India services activity rises in October on higher demand India Red to face India Green in Duleep Trophy opener India June services activity hits eight-month high on solid new orders Boosting rooftop 'parks' can help India achieve solar energy goal (Comment: Special to IANS)
India's second largest tractor brand exporter Sonalika ITL has recorded a 17 percent growth in international market in November 2017.
The company exported 1215 units of tractors, compared to 1042 units last year in the same month. The company is expecting 15 to 20 percent annual growth next year as well.
Sonalika, the youngest tractor brand with a strong belief in Make in India has built World's largest integrated tractor manufacturing unit offering customized tractors to suit diverse farming needs.
The company has a tie-up with Yanmar and has expanded its footprint to another 10 new countries in the year 2017. With this, Sonalika has expanded to 90 countries across the globe. By 2018, the company plans to enter 5 new markets. The export range will be equipped with engines complying with future emission standards.
"Our strategy has been to focus across HP segments and our tractors have become the preferred choice of progressive farmers not just in India but globally. To further strengthen our presence in Europe and US market, we have recently unveiled Solis 30 HST (Hydrostatic Transmission) in Agritechnica - Hanover Germany in Nov'17. Solis a well-recognized brand from ITL in Europe was very much appreciated in the exhibition for Solis 30 HST along with Solis22, Solis 28 and other tractors with next generation tractor platform. Through our tie-up with Yanmar, we are targeting five more markets in 2018," said executive director Sonalika ITL, Raman Mittal.
The incremental volumes are underpinned by encouraging response from Europe and Asia. Sonalika's export demand has also received a boost from markets in Africa, where the governments are encouraging agriculture mechanization.
Sonalika International currently has assembly plants in Brazil, Algeria, Iran and Cameroon, and exports semi-knocked-down, completely-knocked-down and fully-built tractors to approximately to 90 countries.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)