e Agricultural activities were considered under essential during lockdown. However, due to supply constraints,
tractor industry recorded a decline of 14% in Q1 of fiscal 2021; and

« Due to positive farm sentiments on account of better crop profitability, higher government support through
income support schemes, higher procurement of field crops and higher rural expenditure, tractor industry
recorded a growth of 41% in Q2 of fiscal 2021.

Key OEMs in domestic tractor sales

FY20

Others, 9%
Johndeere, 10%
ok Mahindra, 41%
Escorts, 12% >
ITL, 12%
TAFE, 17%

Tractor industry is dominated by players like Mahindra with 41% market share, followed by TAFE at 17%, ITL
and Escorts by 12%, John Deere by 10%, followed by other players.
Exports

Tractor exports recorded a flat growth from fiscal 2015 till fiscal 2020 mainly due to a decline of 17% in fiscal
2020 due to strict emission norms in North America and also due to political tension in some African countries.
Demand from Europe also declined on the back of global economic slowdown.

Asia, North America and Africa together contribute major proportion of exports sales from India. Tractors are
mainly exported to countries like USA, Asian countries like Malaysia, Nepal, Sri Lanka, Bangladesh, etc.

Review of tractor exports

100 mums Tractor exports —®=y-o-y Growth 40%
3
2 20%
=
S 50
3 0%
§
5
3 0 -20%
e FY15 FY16 FY17 FY18 FY19 FY20

Key OEMs in tractor exports

FY20

Others, 13%

ITL, 24%
New Holland
India, 12%
Mahindra, W
13% Johndeere,

21%
TAFE, 17%

108
