MUMBAI, Aug 15 (Reuters) – India’s largest tractor maker, Mahindra and Mahindra (MAHM.NS), launched a brand new platform to fabricate light-weight tractors on Tuesday, which might allow the corporate to double its exports inside three years, a senior firm official informed Reuters.

The new platform, named Oja, was developed in collaboration with India’s Mahindra Research Valley and Japan’s Mitsubishi Mahindra Agriculture Machinery with an funding of 12 billion rupees ($144 million), Hemant Sikka, president of farm gear sector at Mahindra mentioned.

“Our aim is that with the launch of Oja, we will double our export in the next three years. So we want to increase exports from 18,000 to 36,000 in about three years,” he mentioned.

Exports constituted 4.4% of Mahindra’s whole gross sales within the monetary 12 months ended March 31, 2023.

On Tuesday, Mahindra launched three new tractors in Cape Town, South Africa. The firm is planning to introduce tractors from the brand new Oja platform in numerous places together with North America, ASEAN international locations, Brazil, Australia, Europe, and the SAARC area.

($1 = 83.2120 Indian rupees)

Reporting by Rajendra Jadhav
Editing by Mark Potter

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