India’s Farmers Give Mahindra (and Maybe Modi) a Sliver of Hope
- Mahindra tractor sales climbed 69% in August, Anish Shah said
- Gross domestic product shrank by record 24% in April-June
Farmers transporting wheat husk by tractor travel along a road in the Bulandshahr district of Uttar Pradesh, India.
Photographer: Prashanth Vishwanathan/BloombergThis article is for subscribers only.
Indian conglomerate Mahindra Group said sales of farm equipment are much better than expected as the country’s vast hinterland bounces back from lockdown, despite the coronavirus running rampant.
Tractor sales jumped 69% in August from a year earlier, Mahindra’s head of finance, Anish Shah, said in an interview with Bloomberg Television. India’s farm equipment sales have been improving since a barren April, when all sorts of manufacturers across the country were forced to halt production and the top carmakers didn’t report any vehicle sales.