Tractor demand coming back surprisingly fast, never seen this before: M&M’s Goenka

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Right now, demand for tractor is so strong that M&M can sell whatever it makes, Pawan Goenka, President, Mahindra & Mahindra said in an interview to CNBC-TV18.

“Tractors are coming back surprisingly fast and it was kind of expected because everything is going right for agri sector. We had a very good rabi crop, we had good pricing, we have a good reservoir level, we have a monsoon that is already setting all over India, the Kharif sowing is started, which is going very well, so everything is positive for tractor industry.

I haven’t seen anything so positive coming together in the month of May and June like the way it is this year. Therefore it was expected that the tractor demand will be very strong and it has been very strong in the month of May, it was very positive compared to the month of May last year and month of June – we believe that it is going to be ‘whatever we can make, we sell’ situation.

Our plant capacity also – thanks to all our suppliers and thanks to our people – had come up to 85 percent level and even if it is to go to 100 percent level, we can sell at 100 percent level.

So the tractor industry right now is looking very good and it is not just tractor but also everything else that goes into agri input – that is crop care, fertiliser, seeds, everything else is looking very positive and that has been a bright sign for the economy though agri represents only about 13-14 percent of gross domestic product (GDP) but it does take care of income for a large number of people in India. So that is a bright sign for us.”.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow