Japan's Kubota Aiming for 10 Pct Share in Indian Tractor Market
Osaka, Feb. 26 (Jiji Press)--Japanese machinery maker Kubota Corp. <6326> aims to boost its share in the Indian tractor market to 10 pct from around one pct at present, President Masatoshi Kimata has said.
Kubota, based in Osaka, western Japan, will set up in India in late March a joint company with a local agricultural machinery maker to develop and manufacture products with enhanced cost competitiveness that meet market needs in the country.
India is the world's largest tractor market. A majority of tractors used in the country are inexpensive ones manufactured by local firms.
The new company of Kubota will establish a tractor plant in Haryana, northern India, which will start operating in January 2020.
"The plant will have an annual output capacity of 50,000 units in two to three years," Kimata said in a recent interview.
[Copyright The Jiji Press, Ltd.]