India’s export of tractors sees an all-time high growth of 72% since 2013

The major destination for export of tractors is U S A (25.2%), Nepal (7.3%), Bangladesh (6.5%), Thailand (5.4%) & Sri Lanka (5.3%)

India’s export of Tractors rose by more than 72 per cent to USD 1025 Million during April-December 2021 compared to USD 594 Million during April-December 2013.  The major destination for export of tractors is U S A (25.2 per cent), Nepal (7.3 per cent), Bangladesh (6.5 per cent), Thailand (5.4 per cent) & Sri Lanka (5.3 per cent).

India has been seeing consistent growth in exports. It may be noted that India’s merchandise exports in January 2022 increased by 23.69 per cent to USD 34.06 billion over USD 27.54 billion in January 2021; recording an increase of 31.75 per cent over USD 25.85 billion in January 2020.

The Government has taken a number of proactive and effective measures since 2014 to boost the India’s export. A new Foreign Trade Policy (FTP) 2015-20 was launched on 1st April 2015. The policy, inter alia, rationalised the earlier export promotion schemes and introduced two new schemes, namely Merchandise Exports from India Scheme (MEIS) for improving export of goods   and ‘Services Exports from India Scheme (SEIS)’ for increasing exports of services. Duty credit scrips issued under these schemes were made fully transferable.

The Government started implementing a Niryat Bandhu Scheme with an objective to reach out to the new and potential exporters including exporters from Micro, Small & Medium Enterprises (MSMEs) and mentor them through orientation programmes, counselling sessions, individual facilitation, etc., on various aspects of foreign trade for enabling them to get into international trade and boost exports from India.

Assistance provided through several schemes to promote exports, namely, Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme

The major destination for export of tractors