Introduction About Tractor Industry

8/3/2019 Introduction About Tractor Industry

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INTRODUCTION ABOUT TRACTOR INDUSTRY

1.1 WHAT IS TRACTOR?

A tractor is a vehicle specifically designed to deliver a high tractive

effort (or torque) at slow speeds, for the purposes of hauling a trailer or

machinery use d ina g r i c u l t u r e o r c o n s t r u c t i o n . M o s tc o m m o n l y , t h e te r m i s u s e d to d e s c r i b e t h e distinctive farm

vehicle: agricultural implements may be towed behind or mounted onthe

tractor, and the tractor may also provide a source of power if the

implement ismechanized. Another common use of the term, "tractor

unit", describes the power unit of a semi-trailer truck (articulated lorry).The

word tractor was taken from Latin, being the agent noun of trahere

"topull. The first recorded use of the word meaning "an engine or

vehicle for pullingwagons or ploughs" occurred in 1901, displacing the

earlier term traction engine(1859).1.2 OVER VIEW OF INDUSTRY

The tractor industry reported a strong 28.3% growth in sales volumes

during2009-10, thereby ending the phase of cyclical correction that had pulled

down tractor sales during the preceding two years (2007-09). Significantly, the

revival of 2009-10ha ppe ne d d es pit e the dro ug ht- l ik e c on dit io ns in

ma ny S ta te s dur in g the kha r if 1season dampening sentiments. The key

factor enabling the demand growth of 2009-1 0 w a s s t r o n g r u r a l

l i q u i d i t y , w h ic h i n t u r n w a s s u s t a i n e d b y s e v e r a lf a c t o r s , including: higher minimum support price (MSP) for crops; greater

ability of farmers tom a k e c a s h p u r c h a s e s ( i n c l u d i n g t h e

u s a g e o f K i s a n C r e d i t C a r d w h i c h a r e increasingly being used

to part-finance tractor purchases); e nhanced

employmento p p o r t u n i t i e s ( w i t h r u r a l e m p l o y m e n t

s c h e m e s b e i n g i m p l e m e n t e d b y t h e G o ve r n me n t o f

I n d i a ) ; a n i m p r o v e d c r e d i t e n v i r o n m e n t ; a n d c o n t i n u a n c e

of rep lacement demand. These factors apart , non-agr i cu l tura l

use of tractors (for haulage in construction and infrastructure projects)continued to increase, benefitingtractor demand. Also, with infrastructure

projects and rural employment schemesincreasing employment

opportunities, availability of labour for agricultural activitiescontinued

to decline, persuading even farmers with medium-sized land holdings

toeither rent or purchase tractors.On a regional basis, the performance of


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the eas tern, northern and wester nparts of the country was robust during

2009-10 in terms of tractor demand, while thatof the southern region was

moderate. A strong growth in tractor volumes, albeit on al o w b a s e , w a s

w i t n e s s e d i n t h e e a s t e r n S t a t e s , i n c l u d i n g B i h a r , O r i s s a

andJharkhand, which had a good paddy c rop. Tractor vo lumes inthe northern andwestern reg ions a l so reported strong growth

d ur i ng 20 09 -1 0 , e s pe ci a ll y i n th es e c o n d h a l f ( H 2 ) o f t h e y e a r ,

b e n e f i t i n g f r o m a l o w b a s e ( H 2 , 2 0 0 8 - 0 9 ) a n d a s a tis fa cto ry

khar i f c rop in some States . The southern reg ion reporte d

mo de ra te p e r f o r m a n c e i n t e r m s o f t r a c t o r d e m a n d ( g r o w t h

o f 1 1. 9 % i n 2 0 09 - 1 0 ) , b e i n g impacted largely by the de-growth in

Andhra Pradesh (AP)a key southern marketwhere rainfall was

irregular in 2009-10. However, in Karnataka and Tamil Nadu,hi g he r

MSPs for r i ce a long wi th some rev iva l of interest of publ i c sectorba nks(PSBs) in tractor financing led to strong tractor sales volumes.Liquidity

crunch, which pushed up interest rates, e ven as financiers resortedto

more stringent lending norms in the face of rising non-performing assets

(NPAs).However, the situation improved during 2009-10 as credit

availability improved onthe strength of greater liquidity in the banking

system. While tractor financing hastr ad it io na lly be en do ne by P SB s,

of late , pr ivate banks and non-bank ing f inancecompanies

(NBFCs) , desp i te the i r h igher interest ra tes v i s --v i s the PSBs ,

ha ve been able to increase their penetration of this market on thestrength of faster loanprocessing and use of more liberal credit norms.

Overall, with tractor demand being closely linked to agricultural output, growthin

farm mechanization and farmers remuneration, the long-term demand drivers

for the industry remain robust. The currently low levels of tractor

penetration in India,strong Governmental focus o n availability of finance

for agriculture mechanizationtools and on r ural development, increase

in the use of tractors for non-agr iculturalpurposes, and the growing

emphasis on tractor exports augur well for the industry.

Annual Trends in Tractor Sales VolumesMonthly Trends in Tractor Sales Volumes


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Overall, with tractor demand being closely linked to agricultural output, growthin

farm mechanization and farmers remuneration, the long-term demand drivers

for the industry remain robust. The currently low levels of tractor

penetration in India,strong Governmental focus o n availability of finance

for agriculture mechanizationtools and on r ural development, increase

in the use of tractors for non-agr iculturalpurposes, and the growing

emphasis on tractor exports augur well for the industry.

Annual Trends in Tractor Sales VolumesMonthly Trends in Tractor Sales Volumes

Capac i ty ut i l i zat ion in the tractor industry had h i t a low dur ing

2 002- 03 ,following large capacity additions and a volume slump. After that,

capacity utilizationimproved steadily, but remained moderate at around

50% dur ing 2008-09. In 2009-1 0 , t he t ra ct o r vo l um e g ro wt h ha s


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h e l p e d t h e O E M s i m p r o v e th e i r c a p a c i t y u tiliza tio ns; ho we ver ,

there is still excess capacity in the industry. Thus, over themedium term,

most tractor manufacturers would not need to make any

significantcapital investments in building capacities.As discussed, the domestic

tractor industry has to cope with demand volatilityo n a c c o u n t o f c y c l i c a l

t r e n d s a n d t h e s t r o n g l i n k a g e s i t h a s w i t h

a g r i c u l t u r a l production and monsoon rains. Many of the industry

players have thus diversifiedinto related products, including

gene rator engi nes and cra nes, besi des f ocus ingmore on exports, to

gain some insulation against the volatility in do mestic tr actor demand. As

for tractor exports, while a major part of that currently goes to USA, the OEMs

are now exploring various other markets across Europe, Asia and Africa

for future exports.

TRACTOR INDUSTRY TRENDS BY REGION

The biggest markets for the tractor industry include States like Uttar

Pradesh(UP), Andhra Pradesh (AP), Madhya Pradesh (MP), Rajasthan, and

Maharashtra,which together accounted for around 50% of the total

tractor sales in India during2009-10. The tractor industry witnessed a strong y-

o-y growth of 28.3% during 2009-10, with most of the States reporting positive

growth during the year.The northern region remains the largest tractor

market in India with sales of around 1,67,000 units as of 2009-10. This region

reported a growth rate of 35.7% involume sales in 2009-10 over the previous

fiscal, with the key contributors includingU P, P unja b, Ha rya n a a nd

Rajasthan. The northern reg ion benef i ted f rom h igher MSPs ( for

crops), limited availability of labour (forcing higher mechanisation),

andincreas ing non-agr i c u l tura l use of t ractors . Addi t ional ly ,

inc rea se d inf ra st ru ct ure development activities (especially highways)

led to appreciation in land values anduse of tractors fo r non-agricultural

purposes. In some cases, farmers also receivedcompensation for the

Governments acquisition of select land patches (adjoininghighways),

which increased the ava i lab i l i ty of cash wi th them. Feedback

f rom industry players ICRA Rating Feature Tractor Industry: An ICRA Perspective


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Trend in Tractor sales across States

In Rajasthan however, growth in tractor volumes was relatively subdued

in2009-10 (around 24% y-o-y) as compared with the figure for the northern

region as awhole. Tracto r sa les in Rajastha n were especial ly low in H2,

2009-10 versus H1,2009-10, due to lower khar i f outp ut on acco unt

of deficient rains and inadequatefinancing availability.In the eastern

region, tractor volumes continued to report strong growth in2009-10,

albeit on a small base, and went up by 53.8% over 2008-09, being

drivenmainly by the higher MSPs announced for paddy. Within the

region however, manyfinanciers remained reluctant to finance tractor

purchases in some States like Bihar.Nevertheless, in Bihar , tractor volumes

grew 66% over 2008-09 to around 29,000units in 2009-10, thereby

accounting for over 50% of the total sales in the easternregion.The Bihar

market, where tractor penetration had been low historically, hasshown

sustained growth over the last few years and become one of the

importantmarkets for the tractor industry . Overal l , in the eastern

re gio n, gr ow th in tr ac tor volumes is expected to moderate, going

forward, as the benefit of a low base getdiluted gradually.The western

region reported sales of around 92,000 tractor units during 2009-10a growth

rate of 35.7% over the previous fiscalbenefiting particularly from thestrong

performance that Maharashtra, Gujarat and MP posted during H2, 2009-

10(55% y-o-y growth over H2, 2008-09).The factors contributing to the strong

growth in the region during H2, 2009-10in c l u d e d a b e n i g n b a s e e f f e c t ,

h i g h e r c r o p p r i c e s ( o f s u g a r c a n e a n d c o t t o n i n M a h a r a s h t r a ,

and of cereals and soybean in MP), and greater availability of

r e t a i l f i n a n c e . T h e p e r f o r m a n c e o f t h e s o u t h e r n r e g i o n i n t e r m s

o f t r a c t o r s a l e s w a s relatively modest during 2009-10, with the growth

rate being around 11.9% over the

previous fiscal. While most States in the region reported healthy

growth, AP, whichis t he la rges t tr actor market in t he s out h, de -

grew by 10.4% in 2009-10. The APmarket has been undergoing a volume

correction since 2007-08, with the precedingfour to five years having witnessed a

large and sustained volume growth; this factor apart, the de-growth of 2009-10


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was also aided by irregular monsoons.The other big market in the southern

region, Karnataka, reported growth of 74% in tractor volumes in 2009-10

mainly on the strength of higher MSPs for rice;however, volume growth

is expected to moderate in 2010-11 because of the basee f f e c t . I n

T a m i l N a d u , t r a c t o r s a l e s w e r e f l a t d u r i n g H 1 , 2 0 0 9 -1 0 , b u t t h e performance improved in H2, 2009-10 mainly because of

impro ved r etail financingby the PSBs

Indian agriculture is characterised by low farm mechanisation,

fragmentedland holdings, and high dependence on monsoon rains (in the

absence of adequateirrigation facilities). Tractor penetration in India is low at

around 13 tractors per 1,000hectares as against the global ave rage of 19

and the US average of 29. While thisdoes indicate the relative

backwardness of Indian agriculture, it also points to thes ig nif ic a nt

scope that ex i s ts for ra i s ing t ractor penet rat ion, which bodeswell for tractor demand over the long term.

Government support for the agricultural sector:

Although agriculture contributes just around 20% to I ndias GDP, it

providesemployment to a large rural population, which is why the sector

remains a strongfocus area for the Government. The tractor industry

benefi ts s igni ficantly from theGo v e r n m e n t a l f o c us o n

a g r i c u l t u r e , w i t h m e a s u r e s s u c h a s n i l e x c i s e d u t y o n tractors

(even the excise duty on tractor parts has been lowered from 1 6% to8%)and inclusion of tractor financing under priority sector lending (by

PSBs) serving aslong-term demand drivers. Financing of tractor purchase

is of great significance for the industry, it being a key demand facilitator.

Export of tractors:

I n d i a n t r a c t o r m a n u f a c t u r e r s h a v e b e e n i n c r e a s i n g l y

t a r g e t i n g t h e international markets over the last few years. The industry

exported a total of around37 ,9 00 tr ac to rs du ri ng 20 09 -1 0, wi th th e

USA, Afr i ca , South Amer ica , and someAsian countr ies be ing thetop dest inat ions . The industry leader , Mahindra and

M a h i n d r a ( M & M ) , h a s a c q u i r e d Y a n c h e n g T r a c t o r s , t h e

f o u r t h l a r g e s t t r a c t o r manufacturer in China (in terms of FY2008

volumes), to improve its presence in thec o u n t r y . I n t h e d e v e l o p e d


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m a r k e t s , I n d i a n t r a c t o r s h a v e a r e l a t i v e l y m a r g i n a l p r e s e n c e ,

with sales being largely restricted to the hobby farming segment.

Outlook

Tractor sales are expected to remain healthy in fiscal 2010-11, given the

goodrabbi crop this t ime around, the continuing f i rmness in thepr ice s of ag ric ul tu ra lproducts, and the healthy monsoons anticipated

dur ing the coming kha rif season.Moreover, improving farm mechanization

levels (with labor availability in rural areasdeclining), increasing non-agricultural

use of tractors, higher credit disbursements for agr iculture, and shar per

Governmental focus on the farm sector (larger budgetaryallocations) are

also expected to encourage tractor sales.The industrys profitability is

however expected to remain moderate in themedium term, considering the

high competitive intensity and low capacity utilizationlevels , al though larger

players could benefit from scale economics. As for margins,while they

have seen an improvement in 2009-10, they would remain vulnerable

toadverse changes in commodity prices.While some States in the northern region

have achieved high levels of tractor penetrat ion and farm mechan ization, on

an all- India basis, the penetration remainslow, whi ch alo ng wi th the

current shortage of farm labor and consequently r i s inglabor costs,

may be expected to lead to greater mechanization and use of

tractors.The long-term prospects for the Indian tractor in dustry hinge on

agricultural growthand Government support in areas such as financing

availability, tax exemptions, andfiscal s timulus for r ura l develo pment.

Overall, ICRA expects the long-term growth

rate for the Indian tractor industry to trend around the historical

average of 6-8%,supported by increasing tractor penetration.

rate for the Indian tractor industry to trend around the historicalaverage of 6-8%,supported by increasing tractor penetration.

1.5 MARKET STRUCTURE OF TRACTOR MANUFACTURER

Market share of the Indian tractor manufacturer in 2004-05.

rate for the Indian tractor industry to trend around the historical

average of 6-8%,supported by increasing tractor penetration.


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1.5 MARKET STRUCTURE OF TRACTOR MANUFACTURER

Market share of the Indian tractor manufacturer in 2004-05.

Up to 2004-05 the industry is dominated by Mahindra and Mahindra (M&M) with

amarket share of around 26%, followed by Tractors and Farm EquipmentsTAFE,which holds around 14% of the market. The other major players include

Escorts(13.1%), PTL (7.8%).

Market share of the Indian tractor manufacturer in 2009-10


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Mahindra&Mahindra,41.10%TAFE,22%Escorts,12.10%L&T-JOHNDEERE,7.80%OTHERS,17.00%, 0The Indian tractor industry has around 13 national players and a

fewregional players. The industry is dominated by Mahindra and Mahindra

(M&M) with amarket share of around 41.1 %, follo wed by Tractors and

Farm Equipments TAFE,whic h ho lds aro und 22% o f t he mar ket . T he

ot he r ma jo r p la ye rs in c lu de Es co r ts (12.1%), L&T-John Deere (7.8%), and


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International Tractors Limited (8.9%). Duringthe last few years, the industry

has seen so me consolida tion with M&M acquiringPunjab Tractors (PTL) and

TAFE acquiring Eicher Tractors. Most of the tractors soldin India are in the 21-50

HP range, with the 31-40 HP category alone accounting for around 50% of this.

HISTORY

1921 INDIA

The origin of Mahindra Gujarat tractor ltd. Can be traced back to

thepioneering work of Mr. Pashabhai Patel the original promoter of who

foundeda business under the name of Pashabhai Patel co. pvt. Ltd.

1964 INDIA

500 tractors were produced under the gu idance of pas habhai

Pateland the company had collaborated with MOTOKOV.

1972 INDIA

Due to undesirable problem tractor and bulldozer was handed over

byGujarat agro ltd. And the name changed to Hindustan Tractors Ltd.

1975 INDIA

Ownership of the company was passed into the hands of Gujarat

Stategovernment named it is GUJARAT TRACTOR CORPORATION LTD (GTCL).

1999 ONWARDS INDIA

The disinvestment of the Gujarat state government invited M&M

grouppartnership.Th e ma na ge me nt wa s ha nde d o ve r to Ma hi ndr a

an d Ma hi ndra a nd 1999 onwards company called by name MAHINDRA

GUJARAT TRACTORLTD (MGTL).

MGTL is an ISO 9001:2000 company. It is subsidiary company of

Mahindraand Mahindra. The company was incorporate in the state of Gujarat

government on31st Ma rch 19 78 in the name a nd style of Gujarat tractorcorporation ltd which ispromoted by government of Gujarat.The com pany

was taken over by Mahindra and Mahindra which holds 60%equity and

state government holds 40% equity in recent scenario and now companycalled by

MAHINDRA GUJARAT TRACTOR LTD (MGTL).


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Mr. Jagdishchandra Mahindra and Mr. Kailashchandra Mahindra was

thef o u n d e r o f t h e M a h i n d r a a n d M a h i n d r a g r o u p . M a h i n d r a

a n d M o h a m m e d w a s f o r m e d i n 1 9 4 5 b u t l a t e r o n i n 1 9 4 8

t he c o m pa n y r e na me d b y M a h i n d ra a n dMahindra ltd. Which were

deals with steel trading business.MGTL is engage d in manufacturing oftractors which are marke ted under SHAKTIMAAN brand

what they need and want through creating, offering, and exchanging the

product of value.

Activities of department.

Main activity of the department is to develop marketing strategies and

plans whichare l ike, co nnecti ng wit h custo mer, s haping the

ma rk et of fe ri n gs , de l iv er i ng the value, communicate the vale, create long

term growth etc.Communicating value by

Sales promotional activity by .

Road show.

Demo van.

Demo tractor.

Participation in Krushi activity.

Various schemes to dealers.

Free service to customer.

Guarantee and warrantee.

Point of purchase (P-O-P) Displays and demonstrationsMARKET SEGMENTATION

Market segmentation means dividing a market into district groups of

buyers withdifferent needs, characteristic or behavior. We might require

separate products or marketing mixes? It refers to large heterogeneous market

into smaller homogeneouspar ts in o rd er to s el ec t a ny o ne o ut th em in


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wh ic h the co mp a ny thi n ks it sa t is f ycustomer more effectively different

products for different segmentation.

MGTL segmenting market by

Region vise

Customer base like farmer, industrial purchase or for government and

specialcustomer base etc.

Major competitors of MGTL

Tractor and Farm Equipment Ltd and also this company has overtakenEscorts

tractor Ltd.

Mahindra Tractor and this company also has overtaken Gujarat tractor ltd.And

Punjab Tractor Ltd.(SWARAJ TRACTOR).

L&T JOHN DEERE.

FORD TRACTOR.

ESCORTS TRACTOR.

SONALIKA TRACTOR.

Tractor and Farm Equipment Ltd and also this company has overtakenEscorts

tractor Ltd.

Mahindra Tractor and this company also has overtaken Gujarat tractor ltd.And

Punjab Tractor Ltd.(SWARAJ TRACTOR).

L&T JOHN DEERE.

FORD TRACTOR.

ESCORTS TRACTOR.

SONALIKA TRACTOR.


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2.16 OVERVIEW OF

TAFE is a US$750 million tractor major incorporated in 1960 at Chennai

inIndia, in collaboration with Massey Ferguson (now owned by AGCO

corporation,USA). TAFE acquired the Eicher tractors business, its engineplant at Alwar andtransmissions plant at Parwanoo through a wholly

owned subsidiary TAFE Motorsand Tractors Limited.

3. Eicher

2.18 OVERVIEW OF MAHINDRA TRACTOR.

Farm Equipment Sector (FES) is a part of US $6.3 billion Mahindra

group,which i s amo ngst the top 10 industr ia l houses in Ind ia . T he

group has a leadingpresence in key sectors of the Ind ian

e c on o m y, i nc l u di n g t he f i na n c ia l s e rv i ce s , t r a d e , r e t a i l a n dl o g i s t i c s , a u t o m o t i v e c o m p o n e n t s , a f t e r - m a r k e t ,

i n f o r m a t i o n technology and infrastructure development. Mahindra has

recently made an entry inthe two-wheeler segment.The Mahindra group's Farm

Equipment Sector (FES) is amongst the top threetractor brands in the world. It has

won the Japan Quality Medal in 2007. It also holdst h e d i s t i n c t i o n o f

b e i n g t h e f i r s t t r a c t o r c o m p a n y g l o b a l l y t o w i n t h e

D e m i n g Application Prize in 2003. FES is the first tractor company

worldwide to win thesehonors. This shows the strong focus of FES on

Quality and Customer Sat isfaction.

Today, the domestic market share of FES is around 4 2%. (Mahindra

brand: 30%and Swaraj brand: 12%).T h e m o t t o o f F E S i s t o u s h e r

p r o s p e r i t y ; f o r i t s c u s t o m e r s , d e a l e r s , e m p l o y e e s ,

s o c i e t y a n d a l l o t h e r s t a k e h o l d e r s . F E S h a s 6 s t a t e - o f -

t h e - a r t m a nu f ac t u ri n g p la n t s ( i nc l ud i n g 2 p la n t s o f S w ar a j) i n

In dia , 2 pla nts in Ch ina , 3 assembly plants in USA and 1 assembly

plant in Australia. FES has its presence inaround 25 countries across six

continents with more than 1000 dealers world-wide.FE S has a s ubs id ia ryagr ic ul tura l tr actor manufa ctu r ing compa ny i n In diaknown as

Mahindra Gujarat Tractor Limited (MGTL).Mahindra Group has

c o m m e nc e d th e S us ta i n a b il i ty Re p o r t i n g f r o m 2 0 0 8. T o d a y , M & M

g r o u p i s a m o n g s t t h e f e w I n d i a n c o m p a n i e s t o h a v e a n A +

G R I c e r t i f i c a t io n . A s p e r th e c o m m i tm e n ts g i v e n b y th e G r o u p


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under GRI framework,significant reduction in usage of electricity,

water and solid waste is called for. Tomake FES employees aware on the

tenants of sus taina bility, vario us init iatives likeeasily accessible information

on sustainability, setting up of permanent sustainabilityc o r n e r s i n a l l F E S

p l a n t s , o b s e r v i n g o f e n e r g y c o n s e r v a t i o n m o n t h e t c .a r e undertaken

Farm Equipment Sector (FES) is the no. 1 tractor brand in India, since

1983.Brand Mahindra sells a range of tractors that include Bhoomiputra, Shaan,

Sarpanchand Arjun Ultra-1, with each (except Shaan) having range of

variants based on thehors e po wer ( hp) an d ot her att r ib ute s.

Mahindra t ractors are known for h igh fue lef f i c ienc y and

re l iab i l i ty . FES se l l s i ts 15 HP to 75 HP category t ractors in

thedomestic market

FES has a large customer base of more than 21, 00,000 customers

(includingSwaraj). The sector has time and again topped the customer satisfaction

chart. FESalso has the deepest distribution reach with more than 680 dealers

along with widestservice network across India. The sector has four

manufacturing facilities in India,located in Mumbai a nd Nagpur in

Maharashtra, R udrapur in Uttaranchal and Ja ipur in Rajasthan.There is a

strong commitment on part of the top management to make

theproduct ion system even more e f f i c ient through proact ive lyfo l lo wing wor ld-c la ssm e t h o d o l o g i e s l i k e Q C s t o r y a n d

Q C t o o l s , S i x S i g m a , D O E ( D e s i g n o f Experiments) and

TPM ( Total Productive Maintenance).Mahindra & Mahindra had

a c q u i r e d a m a j o r i t y s t a k e i n P u n j a b T r a c t o r s L imited (PTL) in

early 2007. PTL is a good strategic fit to the company, as it comeswi th

i ts s trength of ef f i c ient des ign (s t rong R&D abi l i t ies ) and the

Bra n d S wa raj ,which enjoys a strong customer loyalty for being sturdy and

reliable. Benefits of thisacquisition include advantages of economies of scale,

sourcing benefits and vendor rationalization. Post Mahindra PTL merger inFebruary 2009, PTL is now a part of Mahindra FES. It is known as Swaraj

Division.The Farm Equipment Sector is a process driven or ganization with

a stro ngfocus on quality systems. All FES plants are ISO 14001 (Environment

ManagementSystem), OHSAS 18001 (Occupational Health and Safety

Management System) andISO/TS 16949 (Quality Management System)


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certified.The Farm Equipment Sector is a process driven orga nization with

a stro ngfocus on quality systems. All FES plants are ISO 14001 (Environment

Managemen

Mahindra Swaraj:

Swaraj Group, part of Mahindra & Mahindra (FES Sector) is a dynamic andgrowinggroup, wherein focus is la id on generating economic prosperity

for stakeholders,while growing harmoniously with the community and

environment.Swaraj is one of the leading tractor manufacturers in India and the

company is totallyindigenous. Nearly 6, 00,000 Swaraj tractors operate in

the field providing durabledelight to the discerning farming community

of India. Swaraj has over 600 dealersacross the country.Swaraj Group has

achieved ISO 1 4001:2004 & OHSAS 18001:2007 Ce rtificationand TS 16949

certification for Swaraj Automotives Ltd.

2.19 PRODUCT STRUCTURE OF MAHINDRA TRACTOR

Introduction About Tractor Industry

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