Mahindra & Mahindra Limited’s (M&M Ltd.) Farm Equipment Sector (FES), a part of the USD 16.7 billion Mahindra Group, today announced that it would be raising the prices of its tractors by 1% across the state of Karnataka. This increase would be in the range of Rs. 4,000 to Rs. 4,500 and will be effective for all tractor models from the 1st of January, 2014.
This increase is primarily due to the rising costs of raw materials and inputs. Mahindra & Mahindra Ltd. is a multinational group based in Mumbai, India; and employs more than 1,80,000 people in over 100 countries. Mahindra operates in the key industries such as tractors, utility vehicles, commercial vehicles, two wheelers, information technology and so on. In 2012, Mahindra featured on the Forbes Global 2000 list and in 2013, the Mahindra Group received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category.