Officials of Japanese farm equipment manufacturer Yanmar Holdings Co. and its Indian partner International Tractors Ltd. pose with a newly launched Yanmar tractor in New Delhi on July 10, 2019. (NNA/Kyodo)
By Atul Ranjan
NEW DELHI, NNA - Japanese farm equipment manufacturer Yanmar Holdings Co. has launched sales of tractors dedicated for the Indian market in collaboration with local partner International Tractors Ltd.
The two firms announced on Wednesday they began selling locally suited Yanmar and Solis brand tractors via the first dealership in the western Indian city of Pune last week.
The local firm known as ITL, in which Yanmar owns a 30 percent stake, has so far produced Solis brand products designed for overseas markets, with the Japanese partner providing technical support at the Indian partner’s plant in Hoshiarpur in the northern state of Punjab.
They now produce Yanmar brand tractors as well at the plant for the domestic market in addition to Solis brand machines. ITL has manufactured Sonalika brand tractors for the Indian market, Raman Mittal, executive director of the Indian company, said at a launch event in New Delhi.
“Having enjoyed tremendous success in overseas markets, ITL is now launching Solis in India -- the world’s largest tractor market, to be followed by Yanmar’s YM3 tractor,” the Indian firm said in a statement.
The partnership aims to achieve a combined sales target of 50,000 tractors in five years as ITL looks to set up 400 dealerships across the country in the next two years, Mittal said.
The Hoshiarpur plant has the combined capacity of producing 100,000 Solis and Yanmar tractors annually, he added.
In a bid to achieve low emissions from farm machines, “Solis is focusing on hybrid technology, which will be easy to use without any learning curve,” Mittal said in an interview with NNA on the sidelines of the event.
Yanmar is also developing hybrid tractors for the Indian market as well as for Japan and Europe where needs are very different and technologically more advanced, according to director Kiyoyuki Okuyama, who attended the launch event.
“Both companies are focusing on different types of customers, meeting their respective challenges,” said Mittal.
India’s tractor industry has been at the forefront of farm mechanization, with tractor sales growing to 711,478 units in the year to March 2018, up from 402,586 units in the year to March 2010, according to local brokerage firm ICICI Securities Ltd. (NNA/Kyodo)