Tractor: Steady state market share, rural slate to limit decline The tractor industry has been at the forefront of farm mechanisation in India with total tractor sales pegged at 7.1 lakh units in FY20. Escorts is a prominent tractor player domestically with market share as of FY20 pegged at 11.6%, 130 bps in FY16-20. Given the rural centric tractor demand that is relatively less impacted by Covid-19, the domestic tractor industry is expected to outperform the rest of the automobile industry in FY20. The tractor industry is also likely to benefit from upbeat farm...