The indigenous tractor manufacturer, International Tractors, has introduced five innovative products, including an all-electric tractor tailored for international markets. Additionally, the company is in the process of establishing a dedicated export facility with a capacity of 100,000 units adjacent to its existing plant in Hoshiarpur, Punjab.

International Tractors, renowned for its Sonalika and Solis-branded tractors available in various international markets such as Myanmar, Czech Republic, and Germany, revealed its ambitious expansion plans during the Global Partners Summit (GPS) 200 event held in New Delhi on October 14. The newly unveiled product range comprises the N Series, C Series, S Series, H Series, and the all-electric SV Series, offering power outputs ranging from 16hp to 125hp, catering to diverse agricultural requirements. These cutting-edge products feature advanced technologies and contemporary designs.

Having penetrated markets in Europe, North America, Asia, and Africa since 2010, the company has achieved remarkable growth, increasing exports from 5,070 units in FY11 to 35,160 units in FY23. International Tractors has consistently maintained its position as India's top tractor exporter since FY19, outpacing competitors like John Deere, Mahindra & Mahindra, and New Holland.

To meet the escalating global demand for its products, the company has announced a substantial investment of Rs 850 crore in a dedicated tractor manufacturing plant, slated for completion by the end of 2025. This state-of-the-art facility, situated alongside its existing plant in Hoshiarpur, Punjab, will have an annual production capacity of 100,000 tractors. These "Made in India" tractors will be distributed globally through the company's extensive network of over 3,000 channel partners.

Equipped with modern assembly lines capable of producing one tractor every two minutes, the new facility represents a significant technological upgrade. Raman Mittal, Executive Director of ITL, highlighted the plant's focus on producing more powerful tractors featuring new engines, transmissions, and sheet metal components.

International Tractors plans to enhance its global presence by establishing new assembly plants and offices, including recent initiatives like the opening of an offshore office in the US. The company currently operates assembly plants in the US, Algeria, Brazil, Thailand, and Turkey, with plans for further expansion and collaboration with Japan's Yanmar.

Moreover, ITL aims to strengthen its foothold in key markets such as Brazil, where it plans to increase its assembly capacity from 5,000 to 8,000 units. The company has also ramped up its assembly operations in Turkey, scaling production from 2,000 to 8,000 units. Additionally, ITL operates a Spare Parts Centre in Germany, enabling it to stay abreast of market trends and promptly respond to customer requirements.

With its new range of international products, International Tractors is well-positioned to capitalise on opportunities in modern farming worldwide. While Europe accounts for 40% of its total exports, the company aims to secure leadership positions in more countries, including those in North America. Gaurav Saxena, Director and CEO of International Business at ITL, emphasised the company's goal to expand its European presence and target leadership positions in additional countries.

In addition to its capital expenditure on the new manufacturing facility, ITL plans to invest Rs 150 crore over the next two to three years in research and development. These investments, totalling close to Rs 1,000 crore by FY26, reflect ITL's commitment to advancing its technological capabilities and maintaining its robust growth trajectory, exemplified by the 11% uptick in sales to 151,660 units in FY23.

Source: autocarpro.in