Sonalika Tractors reported its highest-ever quarter first overall sales of 40,700 tractors in financial year 2024.
According to the company, the monsoon season has rapidly expanded its pace in major parts of the country, which is a healthy sign for farming and groundwater replenishment in India. Alongside this, various government subsidies and MSP support have been vital to support farmers to make their farming profitable.
Raman Mittal, Joint Managing Director, International Tractors, said, “Monsoons have already reached over 80% of India which is a healthy sign as above average rainfall will also lead to higher water levels in the reservoirs and collectively allow agri activities to proliferate. Moreover, the recent uptick in MSP across all Kharif crops will not just ensure security to Indian farmers but also encourage farmers to diversify and cultivate diverse crops.”