India's export of Tractors rose by more than 73 percent to 1025 Million dollars during April-December 2021 compared to 594 Million dollars during April-December 2013. The major destination for export of tractors is USA 25.2 percent, Nepal 7.3 percent, Bangladesh 6.5 percent, Thailand 5.4 percent and Sri Lanka 5.3 percent.

Commerce Minister Piyush Goyal said, the world's confidence in India is increasing as it is moving towards self-reliance. He said, it is evidenced by the fact that the export of tractors manufactured in the country has increased.

The Economic Survey 2017-18 stated that Indian tractor industries have emerged as the largest in the world and account for about one-third of total global tractor production. Budget 2022 proposed to phase out the concessional rates in capital goods and project imports gradually. This is another step towards creating level playing field for domestic manufacturers and capacity creation in the sector which includes tractors.

India has been seeing consistent growth in exports. It may be noted that India's merchandise exports in January this year increased by 23.69 percent to 34.06 billion dollars over 27.54 billion dollars in January last year, recording an increase of 31.75 percent over 25.85 billion dollars in January 2020.