Tractor, consumer firms pin hopes on agricultural package to remain robust

Firms expect government schemes to allow people in rural areas to increase spends

Even as a significant part of rural India is going through financial distress after the collapse in food prices and rainfall deficit, demand for consumer goods and tractors is expected to remain robust. 

Tractor sales in India grew at a brisk pace for the April-December 2018 in a row and are expected to touch the 800,000 mark by end of this financial year. Cumulative domestic tractor sales of Mahindra & Mahindra (M&M), TAFE, Sonalika Tractors, Escorts, and John Deere — the top five manufacturers — grew 13 per cent in the first nine months of FY19. 

Rajesh Jejurikar, president (farm equipment sector)