Although agriculture sector contributes less than 15 per cent to the total GDP, it is critical to the economy as it supports around 50 per cent of the total workforce. Agriculture is not only source of livelihood for large section of population but the fact that an average Indian spends half of the total expenditure on food makes it the sector important from the food security point of view. In order to support the economic growth of around 9 per cent which government is targeting to achieve as per 12th five year plan, CARE research believes agriculture sector needs to grow at 4 per cent per annum. The performance of the agriculture sector thus assumes great significance for the government. The report gives valuable insights of the Tractor industry and outlook for the next 5 years. The report also focuses key segments in the Tractor industry and the fundamentals driving the industry. The report also gives a comparative analysis between tractor power and animate power. Furthermore, report covers various regulatory issues and trend in various duties imposed by the Government and detailed cost analysis and credit profile of the key players in the industry.
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