The Indian Tractor industry, which saw a growth of about 20% in FY14, is expected to witness a slower growth of 8-10% in the next fiscal year due to un-seasonal rains in Northern and Western parts of India.
Industry players are confident that the sales in 2015 would not be as bad as it was in FY13, when the industry witnessed a 0% growth. The normal monsoon forecast has a positive direction for the Indian Tractor Industry for this year.
The current financial year (FY14) has been a very good year for the tractor industry with sales of over 6 lakh tractors, an additional 1 lakh units over FY13.
The reasonably good spread out of monsoon across the country has helped in driving tractor volumes during the year.