M&M targets global tractor, farm equipment market
Automobile manufacturer Mahindra & Mahindra is targeting the global tractor and farm equipment market, said Rajesh Jejurikar, president-farm equipment sector at the company.
"We have to think beyond being just a domestic tractor player because we have so much headroom for growth," said Jejurikar.
There is a very large global market for farm equipment also and that is around $150 billion, he said.
The rural market is in a strong momentum, Jejurikar said, adding that the non-farm income has been a driving factor for growth.
The company is expecting a good season because of the infusion of money happening in rural India.
Infrastructure development brings new cash into the rural economy and then the money moves into an important asset class especially when the agri outlook is good, he said. "So all-in-all we see a good season ahead,” he added.
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