Current Trends Of Indian Tractor Industry: A Criticalreview
Journal Title: Applied Science Reports - Year 2013, Vol 3, Issue 2
Abstract
India is an agricultural country. Higher productivity and greater output are the two major contributions in farm mechanization of any country. Tractors form an integral part of farm mechanization and have a crucial role to play in increasing agricultural productivity. Agriculture accounts for approximately 25 percent of India's GDP. Agriculture in India is the means of livelihood of almost two thirds of the workforce in the country and employs nearly 62 percent of the population. On the other hand, Indian tractor industry is the largest in the world, accounting for one third of global production. The tractor industry in India has made a significant progress in terms of production and capacity as well as indigenization of technology. It is a typical sector where both imported technology and indigenous developed technology have developed towards meeting the overall national requirements. In the long term, the industry growth is expected to continue from a moderate CAGR rate of five percent to seven percent largely due to the continued thrust by the government to increase agricultural GDP. In this paper an analysis has been presented to depict the growth of tractor industry with future prospect in context with the agricultural production.
Authors and Affiliations
Subrata Kr Mandal, Atanu Maity
Keywords
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