CNH Navigates US-India Tariff Tensions While Doubling Down on Indian Market
Agricultural equipment leader CNH is navigating 50% tariffs on Indian exports to the U.S. by utilizing local stocks. CEO Gerrit Marx emphasizes long-term growth in India rather than tariff-led relocations. CNH aims for a greater market share and innovative local engineering to cater to Indian farmers.
- Country:
- India
CNH, a key player in agricultural equipment manufacturing, is effectively circumventing the ongoing 50% tariffs on Indian exports to the U.S. by drawing from substantial existing stock in the United States. CEO Gerrit Marx assures that their operations can continue seamlessly for over six months without new shipments.
While handling these trade tensions, CNH is focused on its strategic growth in India, underscoring that its plans for a second plant in the country are driven by long-term aspirations rather than immediate tariff issues. The company is committed to absorbing potential losses temporarily to solidify customer relationships.
CNH is targeting an increase from its current 5% to a double-digit market share in India's tractor sector within five years. Digital innovation plays a central role in their strategy, as they aim to develop cost-effective, locally-tailored solutions that cater precisely to the needs of Indian farmers.
(With inputs from agencies.)
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