MUMBAI (Reuters) – India’s largest tractor maker, Mahindra and Mahindra, launched a new platform to manufacture lightweight tractors on Tuesday, which would enable the company to double its exports within three years, a senior company official told Reuters.
The new platform, named Oja, was developed in collaboration with India’s Mahindra Research Valley and Japan’s Mitsubishi Mahindra Agriculture Machinery with an investment of 12 billion rupees ($144 million), Hemant Sikka, president of farm equipment sector at Mahindra said.
“Our aim is that with the launch of Oja, we will double our export in the next three years. So we want to increase exports from 18,000 to 36,000 in about three years,” he said.
Exports constituted 4.4% of Mahindra’s total sales in the financial year ended March 31, 2023.
On Tuesday, Mahindra launched three new tractors in Cape Town, South Africa. The company is planning to introduce tractors from the new Oja platform in various locations including North America, ASEAN countries, Brazil, Australia, Europe, and the SAARC region.
($1 = 83.2120 Indian rupees)
(Reporting by Rajendra Jadhav; Editing by Mark Potter)
