International Tractors Ltd Aims for Top Global Position, to Launch New Tractors Targeting 25 Countries

Punjab-based International Tractors Ltd, a prominent player in the global agricultural machinery market, is setting its sights on becoming one of the top three global leaders in terms of volume by the end of the decade. The company, known for its Sonalika and Solis tractor brands, currently holds the fifth position globally in terms of tractor sales volume, with a stronghold in 14 countries. To achieve this ambitious goal, International Tractors has outlined plans to attain leadership positions in a whopping 25 countries outside India by 2029-30.

Gaurav Saxena, the Director and CEO of International Business at International Tractors Ltd revealed the company's vision during a recent interaction. "We have plans to reach the top three globally in terms of volumes by 2029-30," said Saxena, emphasizing the company's commitment to expansion and growth on an international scale.

To facilitate this growth, International Tractors is making strategic investments in production capacity and product offerings to cater to diverse markets around the world. The company is in the process of establishing a new production facility near its existing base in Hoshiarpur, Punjab, which will be dedicated exclusively to serving export markets. This new plant is set to have a significant annual production capacity of one lakh units and is expected to be operational within the next three years. Currently, the company has an overall production capacity of approximately three lakh tractors, serving both domestic and export markets.

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Saxena emphasized the importance of the export-oriented plant, noting its potential to strengthen the company's position in several markets, including the United States. International Tractors only began exporting tractors to the US two years ago, and it has high aspirations for growth in the country. "Last year we sold around 2,800 units there, and this year it should grow to 5,000 units. We have big plans for the US market as it is the third largest tractor market globally," Saxena explained. The company's ambition is to secure at least a 10% market share in the US as it continues to expand its product range to cater to markets like the US.

Currently, International Tractors offers tractors ranging from 16 hp to 125 hp and is actively working on introducing even larger products to meet the needs of markets such as the US.

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International Tractors is set to unveil five new series of tractors on October 14, showcasing its commitment to expanding its presence across the globe, including in the US. The company has a track record of impressive growth, having exported 35,000 tractors in the past year. Its top five export markets include Brazil, Bangladesh, Germany, France, and Turkey.

Sushant Sagar Mittal, the Executive Director at International Tractors, highlighted the company's remarkable journey, stating, "In the last 12 years, we have grown from 6 to 150 countries, from exporting 4,000 tractors in 2010 to 35,000 units last year."

International Tractors currently operates assembly plants in the US, Algeria, Brazil, Thailand, and Turkey, further strengthening its global presence. The company's extensive dealer network, comprising over 3,000 dealers in export markets, plays a pivotal role in supporting its global expansion.

The global tractor market is estimated to be approximately 25 lakh units per year, with India contributing around 10 lakh units to this figure. With its aggressive expansion plans and unwavering commitment to innovation, International Tractors appears poised to make a significant impact in the agricultural machinery sector on the world stage, vying for a coveted spot among the top global leaders in the industry.

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