Crisil’s Manish Gupta on El Nino and what it will mean for tractor industry
The Indian tractor industry is at risk due to the potential for an El Nino, which could lead to unseasonal rains and disturbed monsoons. During previous El Nino years in 2015 and 2016, demand for tractors fell by 10% and 13% respectively. This year, the industry is expecting a growth of around 13%, but a moderation to 4%-6% is expected next year due to the large base set by previous years.
