The domestic tractor industry is likely to register a slower growth of 8-10 per cent during the current financial year, leading player in the sector Mahindra & Mahindra said.
In 2017-18, the industry grew by 22 per cent and Mahindra's growth was higher than that.
"At a conservative estimate, the industry is expected to grow by 8-10 per cent this financial year. The growth is highly dependent on the monsoon pattern," Shubhabrata Saha, chief of operations (farm equipment division) of Mahindra said.
The farm equipment division of Mahindra contributed a revenue close to Rs 10,000 crore to the overall turnover of the company, also engaged in the manufacture of passenger and commercial vehicles.
Saha said Mahindra has a wide portfolio of tractors, including four-wheel drive models.
He said that "tractorisation" in the country is increasing as farmers are opting for mechanised farming.
The market in West Bengal is also growing, he said.
Disclaimer: No Business Standard Journalist was involved in creation of this content