US interim trade deal opens door for tractor exports: Escorts Kubota CFO
The India-US interim trade deal gives a good opportunity to explore exporting of tractors to America, according to a senior official of farm and construction equipment firm Escorts Kubota.
The company's Japanese parent Kubota Corporation has stated that it plans to turn India into its growth engine under its mid-term business plan for 2030, identifying business and projects from the country as one of the key aspects of the strategy.
"We are not exporting to the US right now. We think with this tariff thing coming in now, probably this will give us a good opportunity to look at opening up that market again," Escorts Kubota Ltd whole-time director and CFO Bharat Madan told PTI.
He was responding to a query on the impact of the India-US interim trade deal.
"Right now, our parent company (Kubota) is exporting from Japan, and (US tariff on) Japan is about 15 per cent. So, there is not really a significant gap there (with that of India at 18 per cent," he noted.
"That gives us a good ..