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Tractors in India are a major industry and significant contributor to its agriculture output gains. Tractors are an integral part of mechanization and have a crucial role to play in increasing agricultural productivity. Indian tractor industry is relatively young but now has become the largest market worldwide. According to industry sources, the tractor market is expected to clock among the highest segment growth in the automotive industry this financial year. Tractor marketers say the growth trot is already visible in the first quarter which places tractors among the top growth driven sectors in the auto industry.

The recent spate of farm loan waivers across the country may be causing a lot of trouble to bankers and analysts being negative for banking stocks. But, the move is expected to give a tremendous boost to tractor or farm equipment manufacturers. In 2008, after the government waived off farm loans, tractor volume grew at an annualized rate of 21% for the next three years. In addition to the profitable loan waver for tractor and farm equipment market, average monsoon, higher sowing acreage, and moderate minimum support prices for various crops are likely to support farm income further.