Rajesh Jejurikar, Executive Director (Auto & Farm Sectors) of Mahindra & Mahindra Ltd., said the demand for tractors would rise despite the inflation all over the world.
Mr Jejurikar shared with BQ Prime's Niraj Shah — "We feel reasonably insulated from what's happening around the world" during the World Economic Forum event in Davos 2023.
He quoted that — "the global slowdown of the economy can soften commodity prices and it can lead to a positive impact on their company."
Rajesh Jejurikar also stated, "There is a significant decoupling in the auto and farm sectors as domestic demand remains robust, even as fears of a global slowdown continue to loom."
According to Mr Jejurikar, the Indian consumer and the industry can easily handle inflation because India is used to facing inflation and the rest of the world is not. He shared that for 2023, we will witness more agricultural output, a better monsoon cycle, nominal interest rates and some increase in government financial aid.
Hoping 2023 will be a beneficial year for domestic tractor OEMs despite the worldwide inflation.
To know more updates in the Indian tractor industry, visit Tractor Guru.
Website - TractorGuru.in
Instagram - https://bit.ly/3wcqzqM
FaceBook - https://bit.ly/3KUyG0y