Escorts Tractor to Use Startup Partnerships for Exceptional Innovation
Escorts, one of the best tractor brands today, is aiming to boost up its revenue in the next coming years, says Nikhil Nanda, MD.In an interview with CNBC-TV 18, he said that the company is at the inflection point and is expecting rapid growth in the years to come.Recently, Escorts is looking for the partnership with startups to pave the way for amazing technological innovation ahead. According to MD Nikhil Nanda, Escorts has been “connecting with disruptors in US and Europe” and looking at solutions “based on new technology and platforms.” As a part of this plan, the company is planning to launchnew technology, products and platforms every September. The company’s electric tractor, showcased last year, was the result of “deliberations between engineers in Silicon Valley, India and Europe,” said Nanda. He further added, “We have a department – disruptive innovation cell — and we arefocusing on all aspects of technology and solutions.”
“There’s a great thrust on farm implement and farm mechanization and thus, we have launched a division called SHIP (sprayers, harvesters, implements and planters) specifically for this purpose. We can trade and manufacture as well. We are also offering a shared service called Escorts Crop Solution which is like contract farming and we have started with rice,” Nikhil said.All of these strategies go towards selling the solution rather than the equipment and doing end to end options. “We have done some fundamental results on productivity and quality.” “Farm machinery’s share is low right now but will boost in the next 2-5 years framework.”
While expanding its export business, the company is also considering contract manufacturing and private labeling for international players even. “This year we will do 2000 units which is double as compared to the last year and for the next year, we are targeting 4,000 plus units,’’ said Nanda.