Escorts, DLL Group in tie-up for tractor finance

Escorts Ltd has inked a partnership with DLL Group’s Indian subsidiary De Lage Landen Financial Services India (DLL) to launch ‘Escorts Credit’ which will provide retail tractor loans to Escorts’ customers with convenient and fast loan options.

The agreement between Escorts and DLL aims to help Indian farmers buy Escorts tractors through customised repayment options, the company said in a press note.  This tie-up will also empower farmers who cannot afford an all-out cash purchase of the machine, the company said.

Rajan Nanda, CMD, Escorts, said: “Escorts has always played a responsible role in nation-building by customising its products and solutions around the national interest. Our partnership with DLL will be yet another step towards fulfilling Escorts’ vision of an empowered farmer, by delivering prosperity to his doorstep.

Nikhil Nanda, MD, Escorts, added, “We are happy to partner with DLL to further extend the accessibility of Escorts’ agri-machinery products to farmers who seek easy and customized financing solutions.”

While Geert Kraak, director and country manager, DLL India, commented, “This is our first foray into India’s agriculture sector,“ Tom Meredith, president of DLL’s Global Food &Agri Business Unit, said: “This agreement fits perfectly with our ambition to grow DLL’s footprint in developing markets, and India being the largest tractor market globally in number of units sold is on top of our list to develop.”