The company, which has a joint venture with Japan s Kubota, is looking at around 55 per cent growth in exports in 2021-22 with Europe serving as one of the main drivers while it plans to enter markets in South East Asia and Brazil through its partner.
Tractor sales will be impacted in the short term although in the second half of the fiscal they are likely to pick up, Escorts Ltd Group CFO Bharat Madan said
The industry body has urged to give a moratorium.
The body has also suggested the RBI to reduce interest rates.
New Delhi, May 13 (PTI) Automotive dealers have sought fiscal support, including an extension of GST payment for the next three months, to survive the second wave of COVID-19.
As per industry sources, the automotive dealers body FADA has written to Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das, apprising them of the difficulties being faced by the sector while seeking immediate relief measures.
Federation of Automobile Dealers Associations (FADA), which represents over 15,000 dealers having around 25,000 dealerships across the country, has sought a three-month extension for the delay in filing returns of GST payment, the sources said.