"The tractor industry's 2024 performance outlook is positive"

With renowned brands like Case IH and New Holland, CNH Industrial, a global leader in equipment and services, provides comprehensive agriculture solutions, including machinery, implements, and digital technologies. CNH has been at the forefront of delivering cutting-edge technology to farmers nationwide. Celebrating its 25th anniversary, CNH recently showcased agricultural machinery, including balers, combine harvesters, and tractors, at its Greater Noida facility. Narinder Mittal, Country Manager & Managing Director, Agriculture Business – CNH Industrial India & SAARC, shares insights on India’s farm mechanisation industry with AgroSpectrum. Edited excerpts;

- Nitin Konde

NARINDER MITTAL, Country Manager & Managing Director, Agriculture Business – CNH Industrial India & SAARC

How do you foresee the tractor and agriculture equipment business evolving in 2024?

Looking back at 2023, the tractor market experienced fluctuations, with growth in the first half followed by a softening of demand in the latter half of the year. In key regions like Maharashtra, and parts of Karnataka, particularly in the sugarcane farming belt, demand was lower. However, as we look ahead to 2024, the performance outlook is positive. Although the year may not witness a peak in growth, it is not expected to decline either. We anticipate growth to resume from the second half of 2024.

The agriculture sector plays a pivotal role in the overall economic growth. The Government of India has undertaken several initiatives, including the ambitious goal of doubling the income of farmers. This will not only help farmers achieve a better standard of living but also motivate them to contribute actively to their work. The agriculture sector is projected to contribute $600 billion to India's GDP by 2030.

You have recently developed an AI technology that enables tractor and agriculture equipment operators to work remotely. Do you believe that such technologies will revolutionise the Indian agriculture sector?

The adaptable Sense & Act application, developed by Augmenta and recently acquired by CNH, represents a significant advancement in AI technology. Initially integrated into intelligent sprayers, this is one example of the company's AI technology that is built for after-market flexibility. It uses real-time sensors, camera vision, and AI capabilities to autonomously control precise application rates.