Mumbai: The tractor industry's volume growth is likely to moderate to 1-4 per cent in the current fiscal due to a high base effect and a forecast of a below-normal monsoon, after growing at 23.5 per cent year-on-year in FY26, ratings agency Icra said.
The Indian Meteorological Department's first-stage long-range forecast (LRF) for the 2026 Southwest Monsoon projects below-normal rainfall due to the expected El Nino conditions, the agency said.
