In Conversation with M&M's Hemant Sikka
Mahindra & Mahindra is targeting a growth opportunity in the horticulture segment with its latest range of lightweight tractors from Swaraj that come with modern technology. With its new Target brand, Swaraj Tractors is bullish on registering incremental sales and fast growth from this product category.
In a bid to participate in the fastest-growing horticulture space, Swaraj Tractors, the country's second-largest tractor maker which is a part of the Mahindra Group, has launched a new range of 20-30 horsepower under the brand Target. This new range of compact lightweight tractors has been developed after taking feedback from over 1,500 prospective buyers.
Hemant Sikka, president of Farm Equipment Business at Mahindra & Mahindra, talks about how Swaraj has been the fastest growing brand in the last decade and the plan to introduce this new range of tractors is to sustain the outperformance and grow the share.
"It is a white space for us, so this new range of tractors will bring in incremental sales. While India is a large cereal-consuming nation, the horticulture space has been significantly outpacing the market. With the crop area of just 18%, horticulture accounts for 30% of agri-GDP, it is a very important segment that Swaraj aims to participate in with new products," adds Sikka.
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The company has been a market leader for the past 9 years and holds 70% market share in the domestic pick-up segment.