M&M sees tractor sales growth at 5-7% this fiscal

India's tractor sales is likely to be dull with only an around 5-7 per cent growth in the current fiscal due to poor monsoons, a leading industry player said.

"With lesser rains in the country, tractor sales growth will (only) be around 5-7 per cent by end-this fiscal," Mahindra and Mahindra President (Farm Equipment sector) A Choudhari told reporters here.

Tractor sales in the first four-five months of this fiscal have, however, been good, he said.

"Tractor sales in the first five months of this fiscal have been good because there is a lag effect due to last year's good rains," Choudhari said.

Mahindra and Mahindra, which has joint ventures in China for manufacturing tractors, has also witnessed a slowdown in exports from China, he said.   

"Exports from China are down due to the economic meltdown. However, domestic sales in China have been good due to the subsidies given by the government there."