India's export of Tractors rose by more than 72 % to USD 1025 Million during April-December 2021 compared to USD 594 Million during April-December 2013. The major destination for export of tractors is U S A (25.2%), Nepal (7.3%), Bangladesh (6.5%), Thailand (5.4%) & Sri Lanka (5.3%).
The Economic Survey 2017-18 stated that Indian tractor industries have emerged as the largest in the world and account for about one-third of total global tractor production. Budget 2022 proposed to phase out the concessional rates in capital goods and project imports gradually. This is another step towards creating level playing field for domestic manufacturers and capacity creation in the sector which includes tractors.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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