Tractor major Escorts Limited on Monday said that stylish and high-performance products could ensure a 12 per cent growth in the industry, which has faced a negative growth during the current financial year. Escorts said the industry posted a growth of 15 per cent the during last few months, particularly in markets like Madhya Pradesh and Punjab.
“Farmers are fetching good prices for their yield. But tractor penetration in the agriculture segment is not yet high,” said S Sridhar, chief executive officer, Escorts.
While launching a new range of its Powertrac tractor series in India, in Bhopal. The tractor industry posted a negative growth, seeing a 1 per cent fall during current fiscal.
To tap the potential of the industry, the company has plans to come up with stylish, high-performance tractors to catapult itself to the top slot among high-horsepower segment. It says it would soon come up with new products that would attract young and modern farmers.
